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Lucas, Inc. earned $14 million last year and retained $4 million. Lucas has 12 million shares outstanding, and the current price of Lucas shares is

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Lucas, Inc. earned $14 million last year and retained $4 million. Lucas has 12 million shares outstanding, and the current price of Lucas shares is $35 per share. What is the payout ratio? (Round your answer to the nearest whole percent) 74% 71% 66% 76%

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