A company had profit of $700,000 and declared and paid dividends to common shareholders of $200,000 in 2021. The weighted average number of shares outstanding in 2021 was 13,000 shares. The company's common shares were selling for $70 per share on the Toronto Stock Exchange. The company's payout ratio for 2021 was _________. 

 10%.

28.6%.

6.5%.

23.1%