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Crum International's target capital structure calls for 70% debt and 30% equity. The company expects to have $3 million of net income this year, and

Crum International's target capital structure calls for 70% debt and 30% equity. The company expects to have $3 million of net income this year, and 55% of the net income will be paid out in dividends. How large can the firm's capital budget be this year before it will have to issue new common stock? Select the correct answer. $4.5 million, $5.2 million, $6.6 million, $7.3 million, $5.9 million

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