Montana Corp. declared and paid a cash dividend of $70,000 in 2019. Montana also reported the following Income Statement information: Revenues Cost of sales Operating expenses Interest expense Income tax expense Net income 2,000,000 1,100,000 250,000 110,000 75,000 465,000 The payout ratio for Montana in 2019 is: C 15.1% 0 3.5% 07.896 10.8