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44 Lucas Inc. earned $15 million last year and retained $6 million. Lucas has 14 million shares outstanding, and the current price of Lucas shares

44

Lucas Inc. earned $15 million last year and retained $6 million. Lucas has 14 million shares outstanding, and the current price of Lucas shares is $25 per share. What is the dividend payout ratio? (Round your answer to the nearest whole percent.)

63%
65%
60%
55%

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