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What is the projected retention ratio for next year

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Question - The Corner Store has sales of $68,900, dividends of $1,960, and net income of $4,900. The firm is expecting sales to decrease by 3 percent next year while the profit margin remains constant. The firm wants to increase the dividend payout ratio by a fixed amount of 0.05. What is the projected retention ratio for next year?

Reference no: EM133003302

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