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    Springsteen Music Co.

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    Springsteen Music Company earned $820 million last year and paid out 20 percent of earnings in dividends.

    a. By how much did the company's retained earnings increase?

    b. With 100 million shares outstanding and a stock price of $50, what was the dividend yield? (Hint: First compute dividends per share.)

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    Solution Summary

    The solution explains how to calculate the increase in retained earnings and the dividend yield