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A firm debt-to-equity ratio of 0.5 and a dividend payout ratio of 40% projects earnings to be $20 million. point What is the retained earnings/new

A firm debt-to-equity ratio of 0.5 and a dividend payout ratio of 40% projects earnings to be $20 million. point What is the retained earnings/new equity break?

$16.8 million
$17.9 million
$18.4 million
$20.0 million

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