Novak Corp. had net income of $2520000 and paid dividends to common stockholders of $882000 in 2022. The weighted average number of shares outstanding in 2022 was 1134000 shares. Novak Corp. common stock is selling for $40 per share on the NASDAQ. Novak Corp. payout ratio for 2022 is

28%.

35%.

$2 per share.

3%.