The Hastings Sugar Corporation nas the following pattern ot net income each year, and associated capital expenditure projects. The tirm can earn a higher return on the projects than the stockholders could earn if the funds were paid out in the torm of dividends. Year 2 4 Net Income $13 million 24 million 17 million 18 million 22 million Profitable Capital Expenditure S 7 million 11 million 6 million 8 million 8 million The Hastings Corporation has 2 million snares outstanding (The following questions are separate trom each other). a. If the marginal principle ot retained earnings is applied, now much in total cash dividends will be paid over the five years? (Enter your answer in millions.) Total cash dividends million b. It the firm simply uses a payout ratio ot 50 percent ot net income, now much in total cash dividends 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 10 percent stock dividend in years 2 tnrougn 5, and also pays a cash dividend ot $3.40 per snare tor each ot the five years, now much in total dividends will be paid? Total cash dividends