Expanda AB has evaluated five investments for the next financial year. The results of this evaluation are compiled in the following table (SEK thousand): Investment CF0 CFt IRR A -15 000 160 13% B -22 000 5 000 18% C - 5 000 2 000 25% D -12 000 1 500 19% E - 9,000 7,000 15% The company has capitalized distributable equity of SEK 25 million and a required return on new investments of 15%. The Board's policy is to implement the investments that increase value. The current equity ratio is 40% and it is considered optimal. If the company applies the "residual theory" for its dividend policy, how much should be distributed in that case? Choose an alternative:

SEK 15,600 million

SEK 23,400 million

0 Mkr

9,400 Mkr