Robert Williams, president of Williams Corporation, believes that it is a good practice for a company to maintain a constant payout of dividends relative to its earnings. Last year, net income was $520 , 000 , and the corporation paid $104 , 000 in dividends. This year, due to some unusual circumstances, the corporation had income of $1 , 370 , 000 . Hans expects next year's net income to be about $620 , 000 . What was Williams Corporation's payout ratio last year? If it is to maintain the same payout ratio, what amount of dividends would it pay this year? Payout ratio-last year % Dividends paid this year $