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Pate & Co. has a capital budget of $3,000,000. The company wants to maintain a target capital ...

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Pate & Co. has a capital budget of $3,000,000. The company wants to maintain a target capital ...

Pate & Co. has a capital budget of $3,000,000. The company wants to maintain a target capital structure that is 15% debt and 85% equity. The company forecasts that its net income this year will be $3,500,000. If the company follows a residual dividend policy, what will be its total dividend payment?

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$205,000

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$500,000

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$950,000

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$2,550,000

Textbook

Financial Management: Theory and Practice

Edition: 4^th

Authors: Brigham, Ehrhardt, Gessaroli, Nason

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