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Austin Grocers recently reported the following 2016 income statement (in milions of dollars): For the coming year, the company is forecasting a 15% increase in

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Austin Grocers recently reported the following 2016 income statement (in milions of dollars): For the coming year, the company is forecasting a 15% increase in sales, and it expects that its year-end operating costs, including depreciation, wil equal 65% of sales. Austin's tax rate, interest expense, and dividend payout ratio are al expected to remain constant. a. What is Austin's projected 2017 net income? Enter your answer in millons. For example, an answer of $13,000,000 should be entered as 13, Round your answer to two decimal places. b. What is the expected growth rate in Austin's dividends? Do not round your intermediate calculations. Round your answer to two decimal places

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