Question: I need clarification for the answer please, 77. Alibaug Air Purifier Company has 31000 shares of stock outstanding with a market price of Rs. 15

I need clarification for the answer please,

77. Alibaug Air Purifier Company has 31000 shares of stock outstanding with a market price of Rs. 15 per share. If net profit for the year is Rs. 155,000 and the dividend per share is Rs. 2.00, what is the retention ratio for Alibaug Air Purifier Company in per cent? a. 21.6 b. 40 c. 60 d. 78.4

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