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Pickup industries have a profit margin of 5% and a dividend payout ratio of 50%. Last yearat s sales were $400 million, and the total

Pickup industries have a profit margin of 5% and a dividend payout ratio of 50%. Last yearat s sales were $400 million, and the total assets were $200 million.

Spontaneous liabilities $60 million. If the growth of the pickup industries is 10%, how much external financing is needed?

  1. $3 million
  2. 5.48 million
  3. $8.72 million
  4. $32.2 million

5. None of the above

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