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Stinkfoot Shoe Powder Inc. has a target debt / equity ratio of 0 . 4 2 8 6 . Its capital budget ( for new

Stinkfoot Shoe Powder Inc. has a target debt/equity ratio of 0.4286. Its capital budget (for new projects) for next year is estimated at $40 million. Estimated net income is $35 million and there are 1 million shares outstanding. What dividend can Stinkfoot pay next year? Express your answer as a whole dollar amount.

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