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Carston Companys earnings per share is $3.50 and its market price per share is $28. There are 1 million shares of common stock outstanding. And

Carston Companys earnings per share is $3.50 and its market price per share is $28. There are 1 million shares of common stock outstanding. And the company pays an annual dividend of $2.17 per share. What is the companys dividend payout ratio?

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