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Miami Rivet has 500,000 common shares outstanding, and the common stock amount on the balance sheet is $5 million.

The company has not issued or repurchased common stock during the year. Last year's balance in retained earnings was $11.2 million, and the firm paid out dividends of $1.8 million during the year. Based on this information Miami Rivet's end-of-year Retained Earnings are:

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