(Answered) Adam enterprises follows a residual dividend policy and

Finance

Adam Enterprises follows a residual dividend policy and maintains a constant debt-equity ratio. There are 15,000 shares of stock outstanding at a market price of $10 a share. There are 300 bonds outstanding, which are selling at par value of $1,000. The projected spending on capital projects is $180,000 for next year. Earnings for next year are estimated at $70,000. What is the projected dividend amount per share

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