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Stargell Industries follows a strict residual dividend policy. The company has a capital budget of $3,000,000. It has a target capital structure which consists of
Stargell Industries follows a strict residual dividend policy. The company has a capital budget of $3,000,000. It has a target capital structure which consists of 30 percent debt and 70 percent equity. The company forecasts that its net income will be $3,500,000. What will be the company's payout ratio this year?
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