q23

A firm reports net income of $469,050.00 for 2013. The firm has a dividend payout ratio of 21.00%. The firm currently has $909,475.00 in debt, and $1,700,900.00 in shareholder equity. The firm pays 6.00% annual interest on their outstanding debt. The firm wants to maintain its debt to equity ratio. If the firm wants to maintain its same debt-to-equity ratio, how much debt can the firm issue in the coming year If the firm will not issue any new shares? Submit Answer format: Currency: Round to: 0 decimal places