Page of 6 0 - Find below the Company balance sheet for year-end 2525. Balance Sheet, 12/31/2525 Current Assets $1,600 $2,800 Debt PP&E $5,600 $4,400 Stockholders equity (550 shares) $7,200 $7,200 Total For year 2526 the company forecasts sales of $28,800, a net profit margin (= net income + sales) of 53%, a dividend payout ratio (=dividends net income) of 60%, and depreciation that is 16% of beginning-of-year PP&E Throughout year 2526 Debt remains unchanged. The company expects to make capital expenditures such that for the year-end 2526 balance sheet PP&E is $200 larger than it is on the 2525 balance sheet above. Suppose the Capital expenditure is financed exclusively by issuing new equity at the stock price of year-end 2525. Also, suppose the equity price-to-book ratio is constant at 22. Find the stockholder's annual rate of return for year 2526 a. 33.2% b. 44.1% c. 36.5% d. 48.6% e. 40.1% NextGen - Westmo... De NextGen south. 12. Find Below The... Practice Problems