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UTX wants to maintain its organic growth rate at 10% and its payout ratio at 30%. It has a return on equity of 10% and

UTX wants to maintain its organic growth rate at 10% and its payout ratio at 30%. It has a return on equity of 10% and does not use any source of

external funding. What should be the financial leverage ratio (Equity / Assets)

a)1.56

b)1.29

c)1.7

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