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Lucky Mike's, Inc. has a target debt/equity ratio of 0.75. After-tax earnings for 2012 were $850,000 and the firm needs a total of $1,150,000 for

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Lucky Mike's, Inc. has a target debt/equity ratio of 0.75. After-tax earnings for 2012 were $850,000 and the firm needs a total of $1,150,000 for new investments. If the company follows a residual dividend policy, what dividend will be paid? 10. a. b. $67,240 c. $192,857 d. $213,164 e. $862,500

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