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Suppose a firm pays total dividends of $3.4 million out of net income of $27.4 million. What would the firm's payout ratio be? Multiple Choice:

Suppose a firm pays total dividends of $3.4 million out of net income of $27.4 million. What would the firm's payout ratio be?

Multiple Choice:

A. 12.41

B. 0.12

C. 8.06

D. 1.24

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