The following information is provided for ABC Retail Inc. Shareholders' Equity ($ thousands) Preferred stock, $50 par, 4,000,000 shares authorized, 61,000 shares outstanding Common stock, $1 par, 1,000,000 shares authorized, 800,000 shares outstanding Paid-in capital in excess of par Retained earnings Total shareholders' equity Additional information Preferred dividends paid in 2020 Common dividends paid in 2020 Net income for year ended December 31, 2020 Average common shareholders' equity Dec. 31, 2020 $3,050 800 200 35,730 $39,780 $240,000 840,000 2,250,000 25,000,000 The company's payout ratio is (round your answers to two decimal places) O None of the other answers is correct. $0.37. O $0.42 $0.48.