Hans Martinez, president of Martinez 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 $580,000, and the corporation paid $110,200 in dividends. This year, due to some unusual circumstances, the corporation had income of $1,430,000. Hans expects next year's net income to be about $680,000 What was Martinez Corps 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 $