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A payout ratio is the percentage of net income that is paid out to shareholders. The retention ratio (also called the plowback ratio) is the

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A payout ratio is the percentage of net income that is paid out to shareholders. The retention ratio (also called the plowback ratio) is the portion of net income that is retained as earnings to the firm. If a firm has a net income of $16,632 and a payout ratio of 31.131%, how much is added back to retained earnings in dollars? Note: Round your answer to the nearest dollar with zero decimal points

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