The net income for a firm is currently $1,000,000 and is projected to grow annually for the next four years as follows: $1,200,000, $1,300,000, $1,500,000, and $1,700,000. Assuming the dividend payout ratio is 20% and there are 1,000,000 shares outstanding, what is the current dividend per share? Further assuming that the firm does not change its stated dividend, what is the dividend payout ratio for the next four years? (Note: All figures are in thousands.)
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