Edelman, Inc. provides the following information for 2017:

Net income	$190,000
Market price per share of common stock	$20.00/share
Dividends paid	$2.00/share
Common stock outstanding at Jan. 1, 2017	140,000 shares
Common stock outstanding at Dec. 31, 2017	180,000 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.)

A.147.06%

B.20.00%

C.0.63%

D.168.07%