ELAA Inc has a capital budget of $625,000, and it wants to maintain a target capital structure of 40% debt and 60% equity. The company forecasts a net income of $460024.5. If it follows the residual dividend policy, what is its forecasted dividend payout ratio? Residual Distribution Formula Distribution = Net Income ( Target equity ratio) ( Total capital budget) Input your answer rounded to 2 decimal places, and do not enter any symbols such as $,% or commas. Enter the percentage value, not the decimal (eg. 12.32 not 0.1232)