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Which one of the following statements is correct concerning the external financing need (EFN) and the dividend payout ratio? Assume EFN is a positive number Multiple Choice O An increase in the dividend payout ratio will increase the EPN The effect on EFN caused by an increase in the dividend payout ratio cannot be predicted The dividend payout ratio has no effect on the EFN O An increase in EFN causes the dividend payout ratio to decrease An increase in the dividend payout ratio will decrease the EFN