Help me with this question. The options are R24 million

b.

R36 million

c.

R72 million

d.

R108 million

Tracks Ltd is a construction company that builds roads and related civil projects. The company recently faced increased calls from investors to pay dividends due to the perceived lack of new profitable projects in a low growth economy. The company has, in spite of weak business sentiment, maintained a stable profit margin. At a recent meeting, the board resolved to adopt a residual approach to dividend payments. You have been tasked with recommending the dividend that should be paid at the end of the 2023 financial year. The company expects to have earnings available to common shareholders of R 60 million and it will have five million shares in issue at the end of the financial year. Its project schedule for the next financial year is as follows: The company has a WACC of 8% Required: What amount would the company be able to pay out as dividends (the total amount) if it targets a debt ratio of 50%