14-01 *CLEARLY SHOW ANSWER - WILL UPVOTE CORRECT RESPONSE AS I CAN GRADE QUESTION IMMEDIATELY*

Walk Through Residual Distribution Model Puckett Products is planning for 12 million in capital expenditures next year Pucket's target capital structure consists of 55% debt and 454 equity. If net income next year is 51 million and Puckett follows a residual distribution policy with all distributions as dividends, what will be its dividend peout ratio? Round your answer to two decimal places Grade it Now Save & Continue Continue without saving