If Planner's Peanuts dividend payout ratio in Problem 9 is fixed at 50%, calculate the required total

Question:

If Planner's Peanuts dividend payout ratio in Problem 9 is fixed at 50%, calculate the required total external financing for growth rates in 2016 of 15%, 20%, and 25%.

Dividend
A dividend is a distribution of a portion of company’s earnings, decided and managed by the company’s board of directors, and paid to the shareholders. Dividends are given on the shares. It is a token reward paid to the shareholders for their...