Keyton Corporation's net operating income in Year $2$ was $$43,714,$ net income before taxes was $$30,714,$ and the net income was $$21,500.$ Total common stock was $$200,000$ at the end of

both Year $2$ and Year $1.$ The par value of common stock is $$4$ per share. The company's total stockholders' equity at the end of Year $2$ amounted to $$1,148,000$ and at the end of Year $1$ to

$$1,130,000.$ The company declared and paid $$3,500$ dividends on common stock in Year $2.$ The market price per share was $$8\mathrm{.}43$ at the end of Year $2.$ The company's dividend payout ratio

for Year $2$ is closest to: $($Round your intermediate calculations to $2$ decimal places.$)$

Multiple Choice

$11\mathrm{.}4\%$

$0\mathrm{.}8\%$

$16\mathrm{.}3\%$

$1\mathrm{.}8\%$