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Need Help with the following question. Please show work. P15-1 Suppose a firm has a retention ratio of 40 percent, net income of $17 million,

Need Help with the following question. Please show work.

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P15-1 Suppose a firm has a retention ratio of 40 percent, net income of $17 million, and 10 million shares outstanding. What would be the dividend per share paid out on the firm's stock? First: $ Available for Dividends Retention Ratio X Net Income Then: Dividend/share = $ Available/ number of shares

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