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1 encinie PMy x ? ? ? Salex PM x Projerted sales - Dividerul payout ratio ) . Projected sales x ( 1 - Dividend

1

encinie

PMy

\frac{x}{?_{\frac{?}{?}}}

Salex

x

Projerted sales

-

Dividerul payout ratio

) .

Projected sales

x (1 -

Dividend payout ratio

) .

Projected sales.

P M

Sales Dividend payout ratio

)

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