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Intro International Bookbinders expects a net income of $570,000 and pays dividends according to the...

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Finance

Intro International Bookbinders expects a net income of $570,000 and pays dividends according to the residual dividend policy. The company has identified the following independent projects, all with the same risk as the firm overall: Project Initial cost IRR A 210,000 0.09 B 380,000 0.17 C 330,000 0.15 The companys weighted average cost of capital (WACC) is 10% if the company does not need to issue new common stock, and 16% if new common stock must be issued. Its target capital structure consists of 50%

What will the dividend payout ratio be?

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