Commons, Inc The Company Has No Preferred Stock Outstanding

Commons, Inc. provides the following information for 2018: $$\begin{array} { | l | r | } \hline \text { Net income } & \$ 36,000 \\\hline \text { Market price per share of common stock } & \$ 16 / \text { share } \\\hline \text { Dividends paid } & \$ 0.70 / \text { share } \\\hline \text { Common stock outstanding at Jan. } 1,2018 & 130,000 \text { shares } \\\hline \text { Common stock outstanding at Dec. } 31,2018 & 165,000 \text { shares } \\\hline\end{array}$$ The company has no preferred stock outstanding. Calculate the dividend yield for common stock. (Round your answer to two decimal places.)

A) 4.38%
B) 1.50%
C) 2.88%
D) 4.58%