please explain why the perosn is the winner

(Hint: Sustainable Growth Rate can best be found on investopedia.com) You're out a bar when finance friend A, who likes economics, proposes that "dividend policy equilibrium is when the dividend payout ratio = the sustainable growth rate." But your finance friend B, willing to debate this new concept of "dividend policy equilibrium;" counter-argues that "dividend policy equilibrium is when the dividend policy ratio = ROE/ (1 + ROE)" Then they both look to you to declare the winner. What's your finding? Edit View Insert Format Tools Table 12pt Paragraph v 1