Dividend Payout The Wel Corporation expects next year's net income to be $15 million. The...
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Dividend Payout The Wel Corporation expects next year's net income to be $15 million. The firm is currently financed with 45% debt. Wel has $13 million of profitable investment opportunities, and it wishes to maintain its existing debt ratio. According to the residual distributi model (assuming all payments are in the form of dividends), how large should Wel's dividend payout ratio be next year? Round your answer to two decimal places
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