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Bruderheim Corporation is reviewing its capital budget for the upcoming year. They want to continue paying a $3.00DPS. Their target capital structure is 65% equity
Bruderheim Corporation is reviewing its capital budget for the upcoming year. They want to continue paying a $3.00DPS. Their target capital structure is 65% equity and 35% debt and they have 700,000 shares of common equity outstanding with a net income of $8.4 million. What is the maximum capital budget that will support the target DPS? Input your answer rounded to 0 decimal places and do NOT enter any symbols such as $, \% or comma (e.g. 9384615)
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