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Knox Inc. maintains a debt-equity ratio of 0.55 and follows a residual dividend policy. The company has after-tax earnings of $2,800 for the year and

Knox Inc. maintains a debt-equity ratio of 0.55 and follows a residual dividend policy. The company has after-tax earnings of $2,800 for the year and has capital requirements of $2,500 for the new project. What is the total amount of money available for the firm to pay out in dividends this year

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