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Question 3 1 pts A firm has a retained earnings balance of $5 million in the prior year. In the current year, its net income

Question 3 1 pts A firm has a retained earnings balance of $5 million in the prior year. In the current year, its net income is $2.5 million. If the firm has a payout policy of 40%, what is the resulting retained earnings balance? O 6.5 million O 7.5 million O None of the choices ( 6 million

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