As a financial manager for WillPower, Inc, you have the following information:

a) The company follows a residual dividend policy;

b) The total capital budget for next year is likely to be $5,000,000;

c) The forecasted level of earnings next year is $8,000,000;

d) The target or optimal capital structure is a debt ratio of 50%;

Please answer the following questions: a. What will be the amount funded with equity for the projectBlank 1 ? (Keep the answer to a whole number. Example of answer format: $1,000,000) b. Compute the amount of the dividend Blank 2 . (Keep the answer to a whole number. Example of answer format: $1,000,000) c. Compute the dividend pay-out ratio Blank 3 . (Keep the answer to two decimals. Example of the answer format: 55.55%)