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presented below: \begin{tabular}{|c|c|c|} \hline Project it (06igh risk): & Cost of capital =17% & IRH=19% \\ \hline hoject M (Medium risk)t & Cont of capicat =15% & IRR =10% \\ \hline Project L (Low nisk) & Cost of capital = 25 & IPR=9% \\ \hline \end{tabular} Open iptadsheet If Walsh eatablistes b dividends from the revidual dividend model, what wis be its payout rasio? Round your answer to bwo decimpl places. Residual dividend model B C D $4,000,000 3 Each project's investment cost 2.00% 5 IRRM - IRR 1.00% \begin{tabular}{lccc} 7 & & & \\ 8 & Projoct & Cost of Capital & Internal Rate of Rotum \\ \cline { 2 - 4 } 9 & H (High Risk) & 17.00% & 19.00% \\ 10 & M (Medium Risk) & 15.00% & 10.00% \\ 11 & L(Low Risk) & 7.00% & 9.00% \end{tabular} 12 Firm's Capital Structure Weights: 13% debt in capital structure, Wd 14% common equity in capital structure, Wc 15 16. Net income 50.00% 50.00% 17 18 Calculation of Capltal Budget: 19 \begin{tabular}{|c|c|} 19 & Project \\ 21 & H (High Risk) \\ 22 & M (Medium Risk) \\ 23 & L (Low Risk) \\ 24 & Total Capital Budget \\ 25 & \\ & Calculation of Capital Budget Financed \end{tabular} with Common Equity: 26 Comman equily required $8,469,000 27 28 Calculation of Common Dividends Using Residual Model: 29 Common dividends Include in Budget (YiN) Investment Cost Formulas Formulas 30 31 Calculation of Dividend Payout Ratio: -32 Dividend payoul ratio 33 34 35 36 37 38 37 40