Uhri Corporation has provided the following data: Year 2 Year 1 Common stock, 80,000 shares, $4 par value $ 320,000 320,000 Net operating income $ 71,429 Net income before taxes $ 51,429 Net income $ 36,000 Dividends on common stock during Year 2 totaled $4,000. The market price of common stock at the end of Year 2 was $6.08 per share. The company's dividend payout ratio for Year 2 is closest to