Suppose that XYZ Corp. subscribes to a strict residual dividend policy. Their target debt$/$equity ratio is $1.$ Suppose they are willing to issue up to $$3$ million in new equity $($by issuing stock$).$ Their net income for the period is $$5$ million.

a$)$ What is the maximum capital expenditure that XYZ Corp. can afford, while adhering to their target capital structure and dividend policy? $ Blank $1.$ Fill in the blank, read surrounding text.

$($Round your answer to the nearest dollar. Do NOT use commas$)$

b$)$ What would be the amount of the dividend if they spent the maximum budget calculated in part a$)$ above? $ Blank $2.$ Fill in the blank, read surrounding text.