Sperle Corporation has provided the following data concerning its stockholders' equity accounts: Net income for Year 2 was $30,400. Dividends on common stock during Year 2 totaled $6,400. The market price of common stock at the end of Year 2 was $3.08 per share.The company's dividend yield ratio for Year 2 is closest to: (Round your intermediate calculations to 2 decimal places.)

A) 21.1%
B) 2.6%
C) 1.6%
D) 14.7%

Dividend Yield Ratio

A financial ratio that shows how much a company pays out in dividends each year relative to its share price, often used by investors to gauge the income a stock provides.

Dividends

Payments made by a corporation to its shareholder members, usually as a distribution of profits.

Common Stock

A type of equity security that represents ownership in a corporation, providing voting rights and a share in the company's profits via dividends.