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REITs are required by the IRS to pay out annual dividends of 90% of their taxable income. If a REITs taxable income is $2.50 million,

REITs are required by the IRS to pay out annual dividends of 90% of their taxable income. If a REITs taxable income is $2.50 million, what will be the total payout of its annual dividends? (Enter your answer in millions. Round your answer to 2 decimal places.)

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