Please answer ALL parts (including #2 2.3m, 3.3m etc.) and show ALL work! This is the second time I post this question so please answer correctly! Thanks!!

Score: 0 of 1 pt Hw Score: 83.65%, 7.53 of 9 pts 2 of 9 (9 complete) P13-3 (similar to) Question Help Residual dividend policy As president of Young's or calfomra, a large clothing chain you have just received a letter from a major stockholder The stockholder asks about the companys d idend policy in fact, the stockholder has asked you to estimate the amount of the dividend that you are likely to pay next year You have not yet collected all the information about the expected dividend payment, but you do know the foliowing (1) The company follows a residual dividend policy (2) The capital budget for next year is likely to be one of three amounts, depending on the results of capnal budgeting studies that are ourrently under way The capital expenditure amounts are milion S3 millon, and milion (3) The forecasted level of potential retained earnings next year is S2 3milion (4) The target or optimal capital structure is a debt ratio of 40% You have decided to respond by sending the stockholder the best information available to you a. Compute the amount of the dividend (or the amount of new common stock needed) and the dividend payout ratio for each of the three capital expenditure amounts b. Compare, contrast and discuss the amount of dividends (caloulated in parta) associated with each of the three capital expenditure amounts a. if the capital expenditure amount is s2 3 maion, the amount of dividend the firm can pay is Round to the nearest dollar) Enter your answer in the answer box and then click Check Answer 6