What formula do I use to solve the below?

Oriole Company had the following information in its financial statements for the year ended 2017 and 2018:

Common cash dividends for the year 2018

$ 21600

Net income for the year ended 2018

121000

Market price of stock, 12/31/18

24

Common stockholders' equity, 12/31/17

2210000

Common stockholders' equity, 12/31/18

2620000

Outstanding shares, 12/31/18

154700

Preferred dividends for the year ended 2018

29700

What is the payout ratio for Oriole Company for the year ended 2018?

42.2%

17.9%

23.7%

26.8%