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CH18: An all-equity-financed firm plans to grow at an annual rate of at least 11%. Its return on equity is 19%. What is the maximum

CH18: An all-equity-financed firm plans to grow at an annual rate of at least 11%. Its return on equity is 19%. What is the maximum possible dividend payout rate the firm can maintain without resorting to additional equity issues?

What is the maximum divident payout ratio? (In percentage)

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