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britt138 britt138
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9 months ago

Recher Corporation’s common stock has a par value of $3 per share and has been stable at a total value of $270,000 on the company’s balance sheet for several years. The total stockholders’ equity at the end of this year was $1,023,000 and at the beginning of the year was $1,010,000. Net income for the year was $17,500. Dividends on common stock during the year totaled $4,500. The market price of common stock at the end of the year was $3.76 per share.

The company’s dividend payout ratio is closest to: (Round your intermediate calculations to 2 decimal places.)



▸ 1.3%

▸ 1.7%

▸ 17.1%

▸ 26.3%
Textbook 
Introduction to Managerial Accounting: Brewer Edition: 9e

Introduction to Managerial Accounting: Brewer Edition: 9e


Edition: 9th
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awbradshawawbradshaw
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britt138 Author
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9 months ago
Thanks
ediblefruitz
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Yesterday
Good timing, thanks!
Natalie Price
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2 hours ago
I appreciate what you did here, answered it right Smiling Face with Open Mouth
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