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The Wei Corporation expects next year's net income to be $15 million. The firm's debt ratio is currently 45%. Wei had $10 million of profitable

The Wei Corporation expects next year's net income to be $15 million. The firm's debt ratio is currently 45%. Wei had $10 million of profitable investment opportunities, and it wishes to maintain its existing debt ratio. According to the residual distribution model (assuming all payments are in the form of dividends), how large should Wei's dividend payout ratio be next year?

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