Sperle Corporation Has Provided the Following Data Concerning Its Stockholders

Multiple Choice

Sperle Corporation has provided the following data concerning its stockholders' equity accounts: Net income for Year 2 was $30,400. Dividends on common stock during Year 2 totaled $6,400. The market price of common stock at the end of Year 2 was $3.08 per share. The company's dividend payout ratio for Year 2 is closest to:

A) 1.6%
B) 21.1%
C) 2.6%
D) 14.7%