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Minico Inc. expects sales of $253,000 next year. The profit margin is 7% and the firm has a 20 percent dividend payout ratio. What is

Minico Inc. expects sales of $253,000 next year. The profit margin is 7% and the firm has a 20 percent dividend payout ratio. What is the projected increase in retained earnings? Select one: a. $3,825 b. $14,168 c. $14,876 d. $3,542 e. $8,409

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