QUESTION TWO $[15]$ You are a consultant in an accounting firm. A client has approached you with some advice with regards to dividends. $2\mathrm{.}1.$ He wants advice on the dividend decision conundrum that companies encounter and wants to know your opinion on which the best option is to follow. $2\mathrm{.}2.$ His company has made earnings of R$2$m for the $2025$ financial year ending $28$ February. The company has $2$ projects that it would like to invest in$,$ Project $\backslash ($ X $\backslash )$ and Project $\backslash ($ Y $\backslash ),$ each costing R$750,000$ each. The company has a target debt: equity ratio of $\backslash (3$: $2\backslash ).$ Using the residual approach to dividends what value can the company pay out as dividends?