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Assume Enginetronics has a capital budget of $10M and a net income of $10M. The firm's target capital structure is 40 percent debt and 60
Assume Enginetronics has a capital budget of $10M and a net income of $10M. The firm's target capital structure is 40 percent debt and 60 percent equity. Based on the residual model, what will be the firm's payout ratio? (Show your answer as a percentage with no decimal places, without a %. For example, 20.)
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