The ExCommunicado Company tries to follow a pure "residual" dividend policy. Earnings and dividends last year were 100 million and 20 million respectively. Anticipated earnings for this year are 80 million. ExCommunicado is financed completely with common equity. The required rate of return on retained earnings is 15 percent and the cost of new equity is 16 percent. If ExCommunicado has 70 million of investment projects having expected returns greater than 15 percent, determine the total amount of dividends ExCommunicado should pay