Problemlucas inc earned 15 million last year and retained 6, Ask an Expert

Accounting

Problem:

Lucas Inc. earned $15 million last year and retained $6 million. Lucas has 5 million shares outstanding, and the current price of Lucas shares is $30 per share.

Required:

Question: What is the payout ratio?

2.67%
4%
40%
60%

Note: Please show the work not just the answer.

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M91167928

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