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"Worthington Corporation has delcared an annual dividend of $.90 per share. For the year just ended, earnings were $6.50 per share. ,,a. What is Worthington’s payout ratio? ,b. Suppose Worthington has 6.3 million shares outstanding. Borrowing for the coming is planned at $16 million. What are planned investment outlays assuming a residual dividend policy? What target capital structure is implicit in these calculations? " ,

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