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Northern Foods has aftertax earnings of $39,400 for the year. The firm adheres to a residual dividend policy with a debt-equity ratio of .7. The

Northern Foods has aftertax earnings of $39,400 for the year. The firm adheres to a residual dividend policy with a debt-equity ratio of .7. The firm needs $56,300 for new investments. What is the amount of the total dividends that will be paid?

a. $6,282.35

b. $13,906.18

c. $16,218.00

d. $21,704.04

e. $22,510.00

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