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Last year, Headline News Corporation paid $ 7 2 0 , 0 0 0 in dividends and retained $ 2 4 0 , 0 0

Last year, Headline News Corporation paid $720,000 in dividends and retained $240,000 of the earnings it generated. The company follows a constant payout ratio dividend policy. If Headline generates $1.23 million in income this year, how much will be paid in dividends? Round your answer to the nearest dollar.
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