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This year CVS reported net income of $1,150 million and paid out dividends of $497 million. If net income is projected to increase by 3%
This year CVS reported net income of $1,150 million and paid out dividends of $497 million. If net income is projected to increase by 3% next year, what is the projected amount of earnings available to be reinvested (in $ millions) next year? That is, what is the expected increase in retained earnings? Assume the dividend payout ratio is expected to remain constant.
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