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| Residco, Inc., expects net income of $800,000 for the next fiscal year. Its targeted and current capital structure is 40% debt and 60% common equity. The director of capital budgeting has determined that the optimal capital spending for next year is $1.2 million. If Residco follows a strict residual dividend policy, what is the expected dividend-payout ratio for next year? A. 90.0% B. 66.7% C. 40.0% D. 10.0% |