Bertram Corporation had net income of $325,000 and paid dividends to common stockholders of $39,000 in 2017. The weighted average number of shares outstanding in 2017 was 50,000 shares. Bertram Corporation's common stock is selling for $52 per share on the New York Stock Exchange. Bertram Corporation's payout ratio for 2017 is 1) $6.5 per share. 2) 16% 3) 12% 4) 8.3%