Financial Information for Ford and Tesla (as of 12/31/2019)
	Ford	Tesla
Market share price	8.51	225.04
Historical earnings per share (FY 2019)	0.42	-0.05
Expected earnings per share (FY 2020)	0.78	0.10
Shares outstanding	5.3 billion	200 million
Book value of all debt	10.2 billion	5.1 billion
Cash	4.1 billion	3.5 billion
Total annual dividends paid to shareholders (FY 2019)	$1.2 billion	$0.00

Use the information above to determine Ford's dividend payout ratio.

Group of answer choices

A. 0.73

B. 0.10

C. 0.23

D. 0.35