Sustainable Food Corp (SFC) has $20 million in assets that are funded by $12 million in debt and $8 million in equity, which matches their target capital structure. SFC pays 7% on its debt and its WACC is 9.5%. SFC has a tax rate, marginal and average, of 30%. The company expects to pay a dividend next year of $0.75 per share from its net income of $1 million and it does not need to issue new common equity. SFC’s current stock price is $10. What portion of SFC’s net income is it expected to pay in dividends next year?