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Problem 17-3 Total Dividend Amount (LG17-2) Suppose a firm has a retention ratio of 33 percent and net income of $4.8 million. How much does

Problem 17-3 Total Dividend Amount (LG17-2)

Suppose a firm has a retention ratio of 33 percent and net income of $4.8 million. How much does it pay out in dividends?(Enter your answer in dollars not in millions.)

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