Question 1 (3.5 points) ABC Co follows a residual dividend policy and maintains a constant debt-equity ratio. There are 15,000 shares of stock outstanding at a market price of $12 a share. There are 320 bonds outstanding, which are selling at par value of $1,000. The projected spending on capital projects is $180,000 for next year. Earnings for next year are estimated at $70,000. What is the projected dividend amount per share? $0.17 $0.50 $0 $0.67 O $0.35