1. Assume that Wonka Industries has a $500,000 capital budget planned for the coming year and its net income is forecasted at $850,000. Wonka Industries has 300,000 shares outstanding. Determine the DPS the Wonka Industries will pay for the coming year if they apply the following policies:

   1. Residual dividend policy

   2. Stable, predictable dividend policy and they paid a dividend of $1 per share last year

   3. Constant payout ratio of 55%

   4. Low regular dividend of $0.75 plus 40% of earnings greater than $750,000