Fauve Worldwide forecasts a capital budget of $650,000, and its initial capital structure of 60% equity and 40% debt. It also wants to pay $5 dividend/share of 32,000 total shares outstanding. If the company follows the residual dividend policy, and its capital structure is changing to 30% debt and 70% equity how much net income must it earn to meet its capital requirements, pay the dividend, and change the capital structure? A. $550,000 B. $615,000 C. $645,750 D. $678,038 E. $711,939 F. None of the above