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Chris is the boss of a mutual fund. His fund owns x% of the total stock of company Y. Company Y announces annual profits of $44,000,000, and decides to pay dividends to its shareholders at a rate of 15% of its annual profits. If Mambo's company receives $19,800 as a dividend, calculate x, the percentage of company Y's stock that Mambo's mutual fund owns. Give your answer to the nearest tenth of a percent.

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Financial Management, Finance

Category:- Financial Management
Reference No.:- M92865456

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