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Score: 0 of 1 pt 6 of 8 (0 complete) HW Score: 0%, 0 of 8 pts P14-7 (similar to) Alternative dividend policies Over the last 10 years, a firm has had the earnings per share shown in the following table: a. If the firm's dividend policy were based on a constant payout ratio of 40% for all years with positive earnings and 0% otherwise, what would be the annual dividend for 2015? b. If the firm had a dividend payout of $1.00 per share, increasing by $0.10 per share whenever the dividend payout fell below 50% for two consecutive years, what annual dividend would the firm pay in 2015? c. If the firm's policy were to pay $0.50 per share each period except when earnings per share exceed $3.00, when an extra dividend equal to 80% of earnings beyond $3.00 would be paid, what annual dividend would the firm pay in 2015? d. Discuss the pros and cons of each dividend policy described in parts a through c. a. If the firm's dividend policy were based on a constant payout ratio of 40% for all years with positive earnings and 0% otherwise, the annual dividend for 2015 is $ (Round to the nearest cent.) Data Table (Click on the icon located on the top-right corner of the data table below in order to copy its contents into a spreadsheet.) Year Earnings per share Year Earnings per share 2019 $3.95 2014 $2.69 2018 $4.94 2013 $1.08 2017 $4.93 2012 $1.24 2016 $2.42 2011 - $1.53 2015 $4.17 2010 $0.85 Print Done