please help!

A financial analyst is attempting to assess the future dividend policy of Environmental Systems by examining its life

cycle. She anticipates no payout of earnings in the form of cash dividends during the development stage $($I$).$ During

the growth stage $($II$),$ she anticipates $18$ percent of earnings will be distributed as dividends. As the firm progresses

to the expansion stage $($III$),$ the payout ratio will go up to $33$ percent and will eventually reach $60$ percent during the

maturity stage $($IV$).$

a$.$ Assuming earnings per share will be as follows during each of the four stages, indicate the cash dividend per

share $($if any$)$ during each stage.

Note: Leave no cells blank $-$ be certain to enter $"0"$ wherever required. Do not round intermediate calculations

and round your answers to $2$ decimal places.

b$.$ Assume in Stage IV that an investor owns $275$ shares and is in a $15$ percent tax bracket. What will be the

investor's aftertax income from the cash dividend?

Note: Do not round intermediate calculations and round your answer to $2$ decimal places.

c$.$ in what two stages is the firm most likely to utilize stock dividends or stock splits?