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A financial manager has the following information about a company's investment schedule: • Capital budget of €5,000

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A financial manager has the following information about a company's investment schedule:

• Capital budget of €5,000.

• Target capital structure is 70% debt and 30% equity.

• Net income is €4,500.

If the company follows a residual dividend policy, calculate the portion (%) of its net income it will pay out as dividends this year.