You have run a regression of payout ratios against expected growth and risk (beta) for all companies in the market and arrived at the following equation: Payout ratio = 0.80 1.2 (Expected growth) - .25 (Beta) Using this regression, estimate the payout ratio for a firm with an expected growth rate of 20% and a beta of 1.2. a. 0% b. 26% c. 50% d. 56% e. 80%