The next year's net income ofByron Corporation is projected to be $21,000, and its payout ratio is 30 percent.Its target capital structure is 40 percent debt and 60 percent common equity. What is the retained earnings break point??
A. ?$35,000
B. ?$24,500
C. ?$6,300
D. ?$12,600
E. ?$8,400
Answer: B
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