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Last Year, a Firm Earned $31,200 in Net Income on Sales

Question 34

Multiple Choice

Last year, a firm earned $31,200 in net income on sales of $217,600. The company paid $7,500 in dividends. What is the dividend payout ratio?

A) 3.45 percent
B) 4.71 percent
C) 14.34 percent
D) 22.85 percent
E) 24.04 percent

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