Stansfield, Inc. currently has 400,000 shares of stock outstanding, each with a market price of $20 and a book value of $2. If net income for the year is $295,000 and the firm's retention ratio is 60%, what is the dividend per share on the firm's stock?
A) $0.19
B) $0.26
C) $0.30
D) $0.45
E) $0.51
Correct Answer:
Verified
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