5) Edelman, Inc. provides the following information for 2017: Net income Market price per share of common stock Dividends paid Common stock outstanding at Jan 1, 2017 Common stock outstanding at Dec 31, 2017 $290,000 $40.00/share $2.00/share 140,000 shares J150,000 shares The company has no preferred stock outstanding. Calculate the dividend payout ratio. (Round any intermediate calculations and your final answer to two decimal places.)