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Ralston Gourmet Foods inc. earned $240 million last year and retained $110 million. What is the payout ratio? (Do not round intermediate calculations. Input your

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Ralston Gourmet Foods inc. earned $240 million last year and retained $110 million. What is the payout ratio? (Do not round intermediate calculations. Input your answer as a percent rounded to 2 decimal places.) Answer is complete but not entirely correct

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