The Hastings Sugar Corporation has the following pattern of net Income each year, and assodated capital expenditure projects. The firm can earn a higher return on the projects than the stockholders could earn of the funds were paid out in the form of dividends. Year 1 2 3 4 5 Het Income $19 million 19 million 9 million 14 million 17 million Profitable Capital Expenditure $ 7 million 12 million 6 million 7 million 8 million The Hastings Corporation has 3 million shares outstanding. (The following questions are separate from each other). a. If the marginal principle of retained earnings is applied, how much in total cash dividends will be paid over the five years? (Enter your answer in millions.) Total cash dividends million b. If the firm simply uses a payout ratio of 20 percent of net income, how much In total cash didends will be paid? (Enter your answer in millions and round your answer to 1 decimal place.) Total cash dividends million c. If the firm pays a 20 percent stock dividend in years 2 through 5, and also pays a cash diidend of $ 240 per share for each of the five years, how much in total duidends will be paid? Total cash dividends d. Assume the payout ratio in each year is to be 40 percent of the net Income and the firm will pay a 30 percent stock dividend in years 2 through 5. how much will diidends per share for each year be? (Assume the cash diidend is paid after the stock dividend.) (Round your answers to 2 decimal places.) Year Dividends per Share 1 2 3 4 5