Hans Flounder, president of Flounder Corp., 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 $550,000, and the corporation paid $99,000 in dividends. This year, due to some unusual circumstances, the corporation had income of $1,400,000. Hans expects next years net income to be about $650,000.

What was Flounder Corp.s payout ratio last year? If it is to maintain the same payout ratio, what amount of dividends would it pay this year? (Round answers to 0 decimal places, e.g. 125.)

1)Payout ratiolast year ---------%

2)Dividends paid this year $-------------