Question: Facts: Expected Earnings = $70 M; Optimal Capital Structure = 60% Equity and 40% Debt; Optimal Capital Budget = 80M; what is the amount of

Facts: Expected Earnings = $70 M; Optimal Capital Structure = 60% Equity and 40% Debt; Optimal Capital Budget = 80M; what is the amount of dividend based on the residual dividend theory? (If the answer is 11M, then enter 11.)

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