altamonte telecommunications has a target capital structure that consist of 45% debt and 55% equity. the company anticipates that its capital budget for the upcoming year will be $1,000,000. if...

altamonte telecommunications has a target capital structure that consist of 45% debt and 55% equity. the company anticipates that its capital budget for the upcoming year will be $1,000,000. if altamonte reports net income of $1,200,000 and it follows a residual dividend payout policy, what will be its dividend payout ratio?