Boehm Corporation has had stable earnings growth OT 8W0 a year Till the past 1U years and In 2U13 Boehm paid dividends of $2.6 million on net income of $9.8 million. However, in 2014 earnings are expected to lump to $12.6 million, and Boehm plans to invest $3 million in a plant expansion. This onetime unusual earnings growth won't be maintained, though, and after 2014 Boehm will return to its previous 8% earnings growth rate. Its target debt ratio is 35%. Calculate Boehm's total dividends for 2014 under each of the following policies: 1.=lts 2014 dividend payment is set to force dividends to grow at the long-run growth rate in earnings. $2,730,000 %It continues the 2013 dividend payout ratio. ZI 3.=lt uses a pure residual policy with all distributions in the form of dividends (35% of the $7.3 million investment is financed with debt). $14,080,000 =It employs a regular-dividend-plus-extras policy, with the regular dividend being based on the long-run growth rate and the extra dividend being set according to the residual policy. $14,080,000