(b) In 2019, Alpha Corporation earned gross profits of $720815. Now suppose instead of issuing debt, Alpha was financed by a combination of common stock and $1 million of preferred stock. The dividend yield on the preferred was 8%, and the corporate tax rate was still at 21%. Recalculate the profit available for common shareholders after payment of preferred dividends and corporate taxes. (1.5 marks) Round your final answer to two decimals, do not include any commas to separate thousands, and exclude the $ sign. e.g.write $1,234.12 as 1234.12 or write $-12.12 as 12.12 Helpful resource: This question draws your knowledge in COMM602. You can use the following income statement template to answer this question. Gross profit Minus: Interest expense Earnings before taxes Minus: taxes Net Income Minus: Dividend payout Funds available to common shareholders