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a) For-profit hospital earns gross profit of $10 million. 25% (25%) of this gross profit is retained earnings and another 30% is charged to corporate tax. If there are two 25% favoured shareholders and ten 10% ordinary shareholders, how much will each shareholder earn as dividend?

b) If each favoured shareholder pays the income tax of 33.33% on their dividend income, determine their net dividend earning?

c) Find out the retention ratio?

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