Hi Professor

While solving many questions i am not able to solve below mentioned question. Can you help me ?

Aeon Telecom has a target capital structure that consists of 70% debt and 30% equity. The company anticipates that its capital budget for the upcoming year will be $3,000,000. It Aeon reports net income of $3,000,000 and it follows a residual dividend payout policy, what will be its dividend payout ratio?