In 2020, your firms sales were $1,500,000, its net income was $400,000, and the dividend payment was $200,000. You believe that sales will increase by 7%, from 2020 to 2021. Assume that your firm uses the same dividend payout ratio in 2021. Using the percent-of-sale forecasting technique, how much is the firm expected to pay in dividends in 2021?

Group of answer choices

$214,000.75

$214,026.75

$200,015.75

$200,014.75