PLEASE HELP ME CALCULATE A & B. THANK YOU

The Hastings Sugar Corporation has the following pattern of net income each year. and associated capital expenditure projects. The firm can earn a higher return on the projects than the stockholders could earn if the funds were paid out in the form of dividends. Profitable Capital Year Net Income Expenditure 1 $13 million 5 7 million 2 20 million 12 million 3 18 million 6 million 4 14 million 8 million 5 19 million 9 million I The Hastings Corporation has 3 million shares outstanding. (The following questions are separate from each other). a. If the marginal principle of retained earnings is applied, how much in total cash dividends will be paid over the ve years? (Enter your answer in millions.) Total cash dividends [ lmillion b. If the firm simply uses a payout ratio of 20 percent of net income, how much in total cash dividends will be paid? (Enter your answer in millions and round your answer to 1 decimal place.) Total cash dividends I Imillion