Sperle Corporation has provided the following data concerning its stockholders' equity accounts:

	Year 2	Year 1
Stockholders' equity:
Common stock, $5 par value	$400,000	$400,000
Additional paid-in capital-common stock	60,000	60,000
Retained earnings	654,000	630,000
Total stockholders' equity	$1,114,000	$1,090,000

Net income for Year 2 was $30,400. Dividends on common stock during Year 2 totaled $6,400. The market price of common stock at the end of Year 2 was $3.08 per share. The company's dividend payout ratio for Year 2 is closest to:

		14.7%
		1.6%
		2.6%
		21.1%