Ferman Corporation had net income of $250,000 and paid dividends of $50,000 to common stockholders and $20,000

Question:

Ferman Corporation had net income of $250,000 and paid dividends of $50,000 to common stockholders and $20,000 to preferred stockholders in 2010. Ferman Corporation's common stockholders' equity at the beginning and end of 2010 was $870,000 and $1,130,000, respectively. Ferman Corporation's payout ratio for 2010 was..?

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