WorldTrans's projected capital budget is $2,000,000, its target capital structure is 40% debt and 60% equity, and its forecasted net income is $850,000. If the company follows the residual dividend...

WorldTrans's projected capital budget is $2,000,000, its target capital structure is 40% debt and 60% equity, and its forecasted net income is $850,000. If the company follows the residual dividend model, how much dividends will it pay or, alternatively, how much new stock must it issue?