Choco-lattes Corp. earned $5.00 per share in 2008, and paid a dividend of $2.00 per share. If it earns $5.50 in 2009 and managers seek to increase…

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Choco-lattes Corp. earned $5.00 per share in 2008, and paid a dividend of $2.00 per share. If it earns $5.50 in 2009 and managers seek to increase the dividend to $2.75, its payout ratio will be

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