Determine the net income of a Target firm based on the following information: A comparable firm issued a quarterly dividend of $.25 and had a Dividend payout ratio of 80% with 100,000 shares outstanding and a stock price of $25/share. The Target has a valuation of $3,600,000 and 1,000,000 outstanding shares.

a. $180,000

b. $150,000

c. $300,000

d. $200,000

e. $125,000 Please explain in simple way your answer in detail