The Hastings Sugar Corporation has the following pattern of net income each year, and associated capital expenditure projects. The firm can earn a higher return on the projects than the stockholders could earn if the funds were paid out in the form of dividends.

Year Net Income Profitable Capital Expenditure

$1$ $ $15$ million $ $8$ million

$225$ million $12$ million

$39$ million $7$ million

$412$ million $7$ million

$516$ million $8$ million

The Hastings Corporation has $2$ million shares outstanding. $($The following questions are separate from each other.$)$

If the marginal principle of retained earnings is applied, how much in total cash dividends will be paid over the five years?

Note: Enter your answer in millions.

If the firm simply uses a payout ratio of $20$ percent of net income, how much in total cash dividends will be paid?

Note: Enter your answer in millions and round your answer to $1$ decimal place.

If the firm pays a $10$ percent stock dividend in years $2$ through $5,$ and also pays a cash dividend of $$2\mathrm{.}40$ per share for each of the five years, how much in total dividends will be paid?

Assume the payout ratio in each year is to be $20$ percent of the net income and the firm will pay a $10$ percent stock dividend in years $2$ through $5,$ how much will dividends per share for each year be$?($Assume the cash dividend is paid after the stock dividend.$)$

Note: Round your answers to $2$ decimal places.

Dividends per Share:

year $1=$

year $2=$

year $3=$

year $4=$

year $5=$