Metlock, Inc. had net income of $100000 and paid dividends of $27400 to common stockholders and $20000 to preferred stockholders in 2020. Metlock, Inc.s common stockholders equity at the beginning and end of 2020 was $435000 and $580000, respectively. Metlock, Inc.s payout ratio for 2020 is

22.40%.

27.40%.

7.40%.

47.40%.