Payout Ratio and Book Value per Share Divac Company has developed a statement of stockholders' equity for the year 2014 as follows: Divac's preferred stock is $100 par, 8% stock. If the stock is liquidated or redeemed, stockholders are entitled to $120 per share. There are no dividends in arrears on the stock. The common stock has a par value of $5 per share. Assume that the common stockholders have a right to the total net income of $80,000. Required: Determine the dividend payout ratio for the common stock. Round the payout ratio to four decimal places, but enter as a percentage to two decimal places. For example,.34678 rounds to.3468 and would be entered as 34.68, indicating 34.68%. Determine the book value per share of Divac's common stock. Round the book value per share to two decimals