Question: Lazy Lightning Electronics Inc. sets its dividend using the target payout ratio policy. Use the data in the table below to calculate the target payout

Lazy Lightning Electronics Inc. sets its dividend using the target payout

Lazy Lightning Electronics Inc. sets its dividend using the target payout ratio policy. Use the data in the table below to calculate the target payout rate. Selected Financial Information Lazy Lightning Electronics Inc. Dividend per share Year 0 dollar 2.2348 Dividend per share Year 1 dollar 2.2760 Earnings per share Year 0 dollar 2.79 Earnings per share Year 1 dollar 3.25 Adjustment factor 0.14 Lazy Lightning's target payout rate is percentage .(Round to a whole percent.)

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