Swifty Corporation has 100,000 common shares and 10500, $1 preferred shares currently issued. During the year, the company paid and declared a 12% stock dividend when the market price of the common shares was $10. As well, the company paid the preferred dividend and paid $90000 in cash to the common shareholders. If Swifty earned $340000 during the year. Its payout ratio is O 23.78% O 39.47% 0 29.56% 264796