Payout Ratio and Book Value per Share Divac Company has developed a statement of stockholders equity for the year 2017 sfon Paldin Pald-In Preferred Capital Commen Capital Retained Stock Preferred Steck Commentarnings l A , l 1 $100,000 150,000 $400,000 110,000 5.200.000 Stock 100,000 10,000 Net income 80,000 Cash dividend 45.000 Stock dividend 10,000 5,000 15.000 Balance, Dec 3: $110,000 $55.000 5500,000 $50,000 320,000 DIVcs preferred stock $100 pm, Mock, or the work is quidated or redeemed, ochored to 5120 par There are no dividends in reason the too. The context of 15 per share. Assume that the common stockholders have a right to the total net income of $80,000 Required 1. Determine the dividend payout rate for the common stock. Round the prout ratio to four decimal places but enter as a percentage to twa bermat place for eam, 3478 vots to see and would be entered as 460, indicating 34.68% 2. Determine the book value per share of Diwae's comme Mock. Hound the book watu per share to two decima per share