Neil Young Brothers maintains a constant debt-equity ratio. There are 50,000 shares of stock outstanding at a market price of $24.50 a share. There are 2,500 bonds outstanding selling for $980. Projected earnings for next year are estimated at $600,000. The managers expect to make $450,000 investments in new projects in the coming year. How much debt financing will the firm need next year if it follows a residual dividend policy? Question 2 options: $300,000 $450,000 $500,000 $600,000 $0