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XYZ company has the following: Stock market price, December 31, 2018: $80 Common...

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Accounting

XYZ company has the following:

Stock market price, December 31, 2018: $80

Common stock ($5 par): $3,000,000

Net Income for year 2018: $1,700,000

Retained Earnings January 1, 2018: $1,900,000

If on December 31, 2018, the company wants to pay the maximum amount it can in dividends to its shareholders, what is the dividend yield ratio?

Select one:

a. 6%

b. 3.5%

c. 7.5%

d. 4%

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