23. Walter Industries is a family owned business, It has been using the residual div hold a majority of the stock want more if that means income nor the capital structure will change during the coming ye dividend model, but family cash dividends, even if that means a slower future growth rate. Neither the net ar as a result of a dividend policy change to the much would the capital budget have to be cut to enable the firm to achieve the new target dividend payout ratio? % Debt: 35%; % Equity: 65% Capital budget: $5,000,000 Net income (it will not change this year even if dividends increase): $3.500 Currently dividend payout ratio: 7.14% Target dividend payout ratio: 70.0% ,000 A. $2,741,538 B. $3,046,154 C. $3,384,615 D. $3,723,077 E. $4,095,385