Delcon Incorporation is prepared to report the following income statement for the year 2019. Sales 1,52,00,000 Less, operating cost 1,19,00,000 EBIT 33,00,000 Less, interest 3,00,000 Earning before tax 30,00,000 Les, Tax @ 40% 12,00,000 Net income 18,00,000Prior to reporting these income statements, the company wants to determine its annual dividend. The company has 5,00,000 shares of stock outstanding and its stock trades at Rs 48 per share. a. The company had a 40% dividend payout ratio in 2018. If the company wants to maintain this payout ratio in 2019, what will be its per share dividend in 2019? b. If the company maintains this 40% payout ratio, what will be the current yield of the company's stock? c. The company reported net income of Rs 1500,000 in 2018. Assume that the number of shares outstanding has remained constant. What was the companys per share dividend in 2018? d. As an alternative to maintain the same dividend payout ratio, the company is considering maintaining the same dividend per share in 2019 that it paid in 2018. If it chooses this policy, what will be the company's dividend payout ratio in 2019? e. Does the dividend policy of the organization affect the price of the stock?