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please show work 16. Rowe & Co. projects the following data for the coming year. If the firm follows the residual dividend policy AND maintains

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16. Rowe & Co. projects the following data for the coming year. If the firm follows the residual dividend policy AND maintains its current target capital structure, what will its payout ratio be? EBIT $1,500,000 %Debt/%Equity 20%/80% Capital Budget $950,000 Debt outstanding $5,000,000 Interest rate 10% Taxes 40%

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