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Ferris Corporation is considering their dividend policy for this year. They are projecting $6.75 million in profit. They started the year with $12 million

Ferris Corporation is considering their dividend policy for this year. They are projecting $6.75 million in

Ferris Corporation is considering their dividend policy for this year. They are projecting $6.75 million in profit. They started the year with $12 million in retained earnings. The Board of Directors wants to have $15 million in retained earnings at the end of the year. If Ferris ends up with a net income of $6.75 million for the year, how much in Dividends should they pay, to hit the target of $15 million in ending retained earnings.

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