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-Capital budget: $30,000,000 Target capital structure: 45% equity, 55% debt Forecasted net income: $18,000,000 Q: How much (in dollars) of the capital budget will be

-Capital budget: $30,000,000

Target capital structure: 45% equity, 55% debt

Forecasted net income: $18,000,000

Q: How much (in dollars) of the capital budget will be financed by equity?

-According to the residual dividend model, what is the expected dividend payout ratio? Express your answer as a percentage, and round to two decimal places (Enter 20.15 for 20.15%).

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