Show detailed calculations and explanation in order to earn full credit. Assigned Problem 1 David Rose Inc. forecasts a capital budget of $500,000 next year with forecasted net income of $400,000. The company wants to maintain a target capital structure of 30% debt and 70% equity. If the company follows the residual dividend policy, how much in dividends, if any, will it pay? Assigned Problem 2 The following data apply to Elizabeth's Electrical Equipment (all inputs are in millions): Value of operations Short-term investments Debt Number of shares $20,000 $1,000 $6,000 300 The company plans on distributing S50 million by repurchasing stock. What will the intrinsic stock price per share be immediately after the repurchase