Marcus Inc reported earnings per share of $$1\mathrm{.}50$ in $2023$ and paid dividends per share of $$0\mathrm{.}60.$ In $2023,$ the firm also reported the following:

Net Income $=$$$30$ million

Interest Expense $=$$$0\mathrm{.}8$ million

Book Value of Debt $=$$$7\mathrm{.}6$ million

Book Value of Equity $=$$$160$ million

The firm faced a corporate tax rate of $21\%.$ The market value debt$-$to$-$equity ratio is $5\%.$ The treasury bond rate is $8\%.$

The firm expects to maintain these financial fundamentals from $2024$ to $2028,$ at which time it is expected to become a stable firm, with an earnings growth rate of $6\%.$ The expected ROA is $10\%.$ The estimated

cost of debt is $7\%.$

What is the expected payout ratio after $2028?$

$35\%$

$65\%$

$59\%$

$41\%$