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# 1 2 A firm reports net income of $ 4 7 1 , 2 5 0 . 0 0 for 2 0 2 3

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A firm reports net income of $471,250.00 for 2023. The firm has a dividend payout ratio of 24.00%. The firm currently has $971,725.00 in debt, and $1,606,600.00 in shareholder equity.
The firm pays 6.00% annual interest on their outstanding debt. The firm wants to maintain its debt to equity ratio.
If the firm wants to maintain its same debt-to-equity ratio, how much debt can the firm issue in the coming year IF the firm will not issue any new shares?
Answer format: Currency: Round to: 0 decimal places.
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