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Charleston Industrial revised its dividend policy and decided that it wants to maintain a retained earnings account of $1 million. The company's retained earnings account

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Charleston Industrial revised its dividend policy and decided that it wants to maintain a retained earnings account of $1 million. The company's retained earnings account at the end of 2011 was $750.000. and it had earnings available to common stockholders of $800.000 in 2012. What is Charleston Industrial's dividend payout ratio for 2012

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