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Tull Company forecasts comprehensive income of $30,000 in 2021 and $40,000 in 2022. Tull withdraws 30% of comprehensive income each year to pay dividends.
Tull Company forecasts comprehensive income of $30,000 in 2021 and $40,000 in 2022. Tull withdraws 30% of comprehensive income each year to pay dividends. Tull's book value of common shareholders' equity at the beginning of 2021 is $150,000. Tull's cost of common equity capital is 8% and weighted average cost of capital is 6%.. What is Tull's book value of common shareholders' equity at the end of 2022? $171,000 $1,000 $199,000 $220,000
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