PLEASE HELP ME ................................ PLEASE .................. EMERGENCY ....................

(c) Spinfluence Berhad has decided that its capital budget during the coming year will be RM25 million. Its optimal capital structure is 55% equity and 45% debt. The earnings before interest and taxes (EBIT) is projected to be RM45 million for the year. The company has RM300 million of assets; its average interest rate on outstanding debt is 10 percent; and its tax rate is 30%. (i) If the company follows the residual dividend policy and maintains the same capital structure, what will its dividend payout ratio be? (Final answer in 2 decimal places) (5 marks) (ii) Describe the residual dividend policy. (2 marks) (iii) Under the residual dividend policy, how would the debt ratio affect the amount of dividend? (3 marks) [Total: 40 marks]