Exercise Find the net income for a company that has the following information: Sales = 45 000 000 Cost of Goods Sold = 3 375 000 Depreciation Expenses = 150 000 %3D Other Operating Expenses = 300 000 Interest expenses = 0 %3D Tax rate =0.35 The company chooses to reinvest 50 000.

Calculate the payout ratio.

its correct number