Hello tutor please provide correct answer general accounting question Finch Island Cruises (FIC) expects constant growth of 3% indefinitely. Thecompany's target debt/assets ratio is 35%, and it plans profitable investments totaling$2 million this year. FIC intends to maintain the same dividend payment it has hadfor the past 5 years, $1.80 per share. The firm currently has 800,000 sharesoutstanding. If net income is projected at $2.4 million, what is FIC's dividend payoutratio this year?

Step 1: Define Dividend Payout RatioThe dividend payout ratio measures the proportion of net income…

Answered: Finch Island Cruises (FIC) expects…

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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