Cullumber Corporation had the following information in its financial statements for the year ended $2025$ and $2026$ :

Common cash dividends for the year $2026$$$21400$

Net income for the year $2026$

$130000$

Market price of stock, $12/31/26$

$24$

Common stockholders' equity, $12/31/252210000$

Common stockholders' equity, $12/31/262660000$

Outstanding shares, $\frac{12}{31}\frac{?}{26}$

$151800$

Preferred dividends for the year $2026$

$30300$

What is the payout ratio for Cullumber Corporation for the year ended $\frac{12}{31}\frac{?}{2026}?$

$16\mathrm{.}5\%$

$21\mathrm{.}5\%$

$23\mathrm{.}0\%$

$39\mathrm{.}5\%$