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Question 21 (3 points) A company uses a residual dividend policy. A debt-equity ratio of 1.10 is considered optimal. Earnings for the period just ended

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Question 21 (3 points) A company uses a residual dividend policy. A debt-equity ratio of 1.10 is considered optimal. Earnings for the period just ended were $2,200 and a dividend of $1,200 was paid. How much in new debt was borrowed? Enter your answer in the box shown below with 2 digits to the right of the decimal point. Your

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