Question $3($Show your workings$)$

Eagle Bhd$.,$ a manufacturing company, has forecasted its investment opportunities over the next $3$ years. The company wants to maintain an optimal capital structure which given a $60$:$40$ debt$-$to$-$equity mix. Currently, the outstanding common stock amount is $1$ million units. The total cost of each year's investment and the earnings available for that year are as follows:

$\backslash$table$[[$Year$,$Cost $($RM$\text{'}000),\backslash$table$[[$Earnings$],[($RM$\text{'}000)]]],[1,2,500,2,000],[2,2,800,3,200],[3,4,500,3,500]]$

Calculate the dividend payout ratio, and dividend per share for each year assuming the firm applies the residual dividend policy.

$(20$ Marks$)$