Matt Kifer, president of Kifer Corporation, believes that it is a good practice for a company to maintain a constant payout of dividends relative to its earnings. Last year net income was $639,000, and the corporation paid $138,900 in dividends. This year, due to some unusual circumstances, the corporation had income of $1,604,700. Matt expects next year's net income to be about $761,000.
What was Kifer Corporation's payout ratio last year?give as a percentage.If it is to maintain the same payout ratio, what amount of dividends would it pay this year?