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QUESTION 9 For this and the next question. Caesar Machinery is a large machine shop in the southeast side of town. The company's capital budget for next fiscal year is $60 million. Its optimal capital structure calls for a debt ratio of 60 percent. The company's earnings before interest and taxes (EBIT) are $98 million for the year. The firm has $200 million in assets, pays an average interest of 10 percent on all its debt, and has a marginal tax rate of 35 percent. The firm maintains a residual dividend policy and will keep its optimal capital structure intact. Determine the company's net income for the year. $66.00 million $55.90 million $67.90 million $31.90 million QUESTION 10 Calculate residual dividend. Please refer to your handout for an example. $36.00 million $55.90 million $67.90 million $31.90 million QUESTION 11 The ex-dividend date is generally two days before the: declaration date holder-of-record date payment date end of the fiscal year QUESTION 12 If you are considering purchasing a stock because you want to receive the next dividend that will be paid by the firm, which of the following dates would be most important to the timing of your purchase? declaration date ex-dividend date payment date holder-of-record date