Question 16 1 points Save Ar Iffert Corporation's net income last year was $4,040,000. The dividend on common stock was $6.40 per share and the dividend on the preferred stock was $2.30 per share. The market price of common stock at the end of the year was $43.40 per share. Throughout the year, 300,000 shares of common stock and 100,000 shares of preferred stock were outstanding. The dividend payout ratio is closest to: 0.50 O O O od 0.48