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Simon Corporation had profits of $1,500,000 for the year ending December 31, 2023, and retained earnings increased by $840,000. There were no prior period adjustments

Simon Corporation had profits of $1,500,000 for the year ending December 31, 2023, and retained earnings increased by $840,000. There were no prior period adjustments during the year. What is their dividend payout ratio? Select one: a. 48% b. 56% c. 9.6% d. 44%

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