Grapefruit, Inc. provides the following information for $20$X$8$:

Net income $$31,200$

Market price per share of common stock $$20/$share

Dividends paid $$0\mathrm{.}80/$share

Common stock outstanding at Jan. $1,2018150,000$ shares

Common stock outstanding at Dec. $31,2018150,000$ shares

The company has no preferred stock outstanding. Calculate the dividend yield for common stock. Note please answer to the nearest whole number percentage. Round to the nearest whole percentage.