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Avant-Marlowe Technologies has a target capital structure that consists of 42% equity with the remainder from Long-term Debt. The company anticipates that its capital budget
Avant-Marlowe Technologies has a target capital structure that consists of 42% equity with the remainder from Long-term Debt. The company anticipates that its capital budget for the upcoming year will be $13 million. If the firm reports net income of $21 million, and it follows a residual dividend policy, what will be its dividend payout ratio? Report your answer rounded to three decimal places.
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