Question: Please solve this using Excel and show the respective formula or cell reference! Thank you. 1) (10 points) XYZ Corp has a capital budget of

Please solve this using Excel and show the respective formula or cell reference! Thank you.

1) (10 points) XYZ Corp has a capital budget of $10M for next year. The company has a target capital structure of 65% Equity / 35% Debt. If net income next year is projected to be $9M and the company follows a residual distribution model and pays all distributions as dividends, what will be its payout ratio

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