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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

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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 is $2.5 million. If the firm has a payout policy of 40%. what is the resulting retained earnings balance? None of the choices 6,5 million 6 million 7.5 million

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