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Parker Corp. had a Retained Earnings balance of $61,117 at the end of 20x3. During 20x4, the company had net income of $58,798. If

Parker Corp. had a Retained Earnings balance of $61,117 at the end of 20x3. During 20x4, the company had net income of $58,798. If the payout ratio during 20x4 is 28%, what amount of Retained Earnings will Parker report as of December 31, 20x4? Round to the nearest dollar.

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