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Firms generally: Multiple Choice set high target payout ratios when they are relatively young. decrease their dividends as soon as they expect earnings to

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Firms generally: Multiple Choice set high target payout ratios when they are relatively young. decrease their dividends as soon as they expect earnings to decline. allow their dividend changes to lag their earnings changes. O set short-term target ratios of dividends to earnings. O set the dividend growth rate equal to the firm's earnings growth rate.

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