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A company expects sales to be $ 4 0 0 , 0 0 0 next year. Suppose its profit margin is projected to be 1

A company expects sales to be $400,000 next year. Suppose its profit margin is projected to be 12.0% and the dividend payout ratio is 25%. What is the projected change in retained earnings?
$28,800
$36,000
$24,000
$100,000
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