If net income next year is 13 million and they follow a


A company has identified $23 million in capital expenditures next year. Their target capital structure consists of 49.7% debt and 50.3% equity. If net income next year is $13 million and they follow a residual distribution policy with all distributions as dividends, its dividend payout ratio will be closest to:

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Financial Management: If net income next year is 13 million and they follow a
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