Question
A company with 800,000 shares outstanding has declared an annual dividend of $11.80 per share. For the period just ended, earnings per share were $14.75.
A company with 800,000 shares outstanding has declared an annual dividend of $11.80 per share. For the period just ended, earnings per share were $14.75. If the company uses a residual dividend policy and plans to borrow $400,000 in new debt, what amount is planned for total capital expenditures?
(round final answer to two)
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Financial Management for Public Health and Not for Profit Organizations
Authors: Steven A. Finkler, Thad Calabrese
4th edition
133060411, 132805669, 9780133060416, 978-0132805667
