Peaches and cream inc had earnings per share of $17 during the year ended December 31, 2021, There are currently 45,000 common shares outstanding. These common shares were originally issued for a total of $100,000 cash. If peaches and cream Inc. pays out a total of $320,000 in dividends during 2021 what is their dividend payout ratio? Express your answer as a percent, rounded to two decimals.