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Assume Enginetronics has a capital budget of $10M and a net income of $10M. The firms target capital structure is 40 percent debt and 60

Assume Enginetronics has a capital budget of $10M and a net income of $10M. The firms target capital structure is 40 percent debt and 60 percent equity. Based on the residual model, what will be the firms payout ratio?

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