Edward Lewis. president of Lewis Corporation, believes that it is a good practice for a company to maintain a constant payout of dividends relative to its earnings. Last year, net income was $680,000, and the corporation paid $122,400 in dividends. This year, due to some unusual circumstances, the corporation had income of $1,530,000. Edward expects next year's net income to be about $780,000 What was Lewis Corporation's payout ratio last year? If it is to maintain the same payout ratio, what amount of dividends would it pay this year? Payout ratio-last year % Dividends paid this year