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If net income for the year is $ 7 5 million, no common stock dividends were paid out but the firm repurchased $ 3 0

If net income for the year is $75 million, no common stock dividends were paid out but the firm repurchased $30 million of the common stock, then the increase in retained earnings equal
a. $30 million
b. $45 million
c. $75 million
d. None of the above.

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