Golden Gate Corp.'s projected net income is $250 million, its target capital structure is 20% debt and 80% equity, and its target dividend payout ratio is 35%. Golden Gate has more positive NPV projects than it can finance without issuing new stock, but its board of directors decided that it cannot issue any new shares in the foreseeable future due to current stock market volatility. The CFO now wants to determine how the maximum capital budget would be affected by changes in capital structure policy and/or the target dividend payout policy. Versus the current policy, how much increase could the total capital budget be if the target payout ratio were lowered to 20% and the target debt ratio were raised to 60% simultaneously (both happen at the same time)?

Do not reference chegg!!!!!!!!!

Please show work.