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Calculate herman corporation payout ratio

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Question - Herman Corporation had net income of $120,000 and paid dividends of $24,000 to common stockholders and $20,000 to preferred stockholders in 2014. Herman Corporation's common stockholders' equity at the beginning and end of 2014 was $450,000 and $550,000, respectively. Calculate Herman Corporation's payout ratio for 2014?

Reference no: EM132078410

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