The firm's current beta is 1.0, and the current T. Bond rate is 8.5%. The firm expects working capital to increase $50 million both this year and next. The firm plans to finance its net capital expenditures and working capital needs with 30% debt. a. What is the firm's current payout ratio? b. What proportion of its current free cash flow to equity is it paying out as dividends? c. What would your projected capital expenditure be for next year (i.e Which of the five projects would you accept and why)?