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1. A Corp. has a target capital structure of 55% debt and 45% equity. The company anticipates that its capital budget for the upcoming

1. A Corp. has a target capital structure of 55% debt and 45% equity. The company anticipates that its capital budget for the upcoming year will be $5,000,000 and its net income is reported at $6,000,000. If the company follows the residual dividend policy, what will be its dividend payout?

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