Red Bison Petroleum Producers Company is expected to generate $240,000,000 in net income over the next year. Red Bison Petroleum Producers has forecasted a capital budget of $86,000,000, and it wishes to maintain its current capital structure of 70% debt and 30% equity.

If the company follows a strict residual distribution policy and makes distributions in the form of dividends, what is its expected dividend payout ratio for this year?