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Blizzard Corporation has declared an annual dividend of $1.60 per share. For the year just ended, earnings were $7.62 per share. A. What is Blizzard's

Blizzard Corporation has declared an annual dividend of $1.60 per share. For the year just ended, earnings were $7.62 per share.

A. What is Blizzard's payout ratio?

B. Suppose Blizzard has 6.5 million shares outstanding. Borrowing for the coming year is planned at $19 million. What are planned investment outlays assuming a residual dividend policy? What target capital structure is implicit in these calculations?

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