Lucky Inc. has a target capital structure of 53% common equity and 47% debt to fund its 5 billion in operating assets. Its WACC is 12%. Its before tax cost of debt is 9.89%. Its tax rate is 35%. Retained earnings are adequate to provide the common equity portion of its capital budget. Expected dividend next year D1 is $1.75 and the current stock price is $20. What is the expected growth rate of the company? If the firm's net income is expected to be 600 million, what portion of that net income is the company expected to pay out as dividends?