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Ronaldo Inc. has a capital budget of $1,000,000, but it wants to maintain a target capital structure of 60% debt and 40% equity. The company forecasts this year’s net income to be $600,000. If the company follows a residual dividend policy, what will be its dividend payout ratio? (Points: 5), 16.67% , 20.00% , 25.00% , 33.33% , 35.00% ,

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