Seifert Company is considering three independent projects, each reguiring $4 million in investment. The estimated internal rate of return (IRR) and cost of capital for these projects are shown in the following table: Project Cost of Capital IRR Project H 14.00% 18.00% Project M 12.00% 16.00% Project L 8.00% 7.00% The optimal capital structurs for the company consists of 50.00% debt and 50.00% equity. The company expects to have net income of 8,000,000.00, and is s=eking to estimate its dividend payout ratio if dividends are established from the residual dividend model. Seifert will accept projects where W | By this criteria, projects w will be accepted. The required capital budget for these projects is w . Given the optimal percentage of equity, this means that w of equity will be required to fund these projects. Which of the following most accurately describes the amount of dividends paid under the residual dividend model? O Dividends = Net Income Retained earnings required to help finance new investments (O Dividends Retained earnings required to help finance new investments Net Income ) Dividends =0 O Dividends = Net Income + Retained earnings required to help finance new investments The dividend payout ratio is equal to W