Please do questions A 1 through 5 and questions B and C

Due: midnight, November 28 Boehrn Corporation has had stable earnings growth of 8% a year for the past 10 years and in 2018 Boehm paid dividends of $2.6 million on net income of $9.8 million. However, in 2019 earnings are expected to jump to $12.6 million and Boehm plans to invest $7.3 million in a plant expansion. This one-time unusual earnings growth won't be maintained, though, and after 2019 Boehm will return to its previous 8% earnings growth rate. Its target debt ratio is 35%. a. Calculate Boehm's total dividends for 2019 under each of the following policies: (1) Its 2019 dividend payment is set to force dividends to grow at the long-run growth rate in earnings. (2) It continues the 2018 dividend payout ratio. (3) It uses a pure residual policy with all distributions in the form of dividends (35% of the $7.3 million investment is financed with debt). (4) It employs a regular-dividend-plus-extras policy, with the regular dividend being based on the long-run growth rate and the extra dividend being set according to the residual policy A (5). In addition to the dividend policies in questions A(1)- A(4), evaluate a regular dividend plus stock repurchase policy