The Dividend Payout Ratio of a Firm Is 40 $24 \%$

The dividend payout ratio of a firm is 40%.If the cost of equity capital for the firm is 10% p.a.and the corporate tax rate is 30%,calculate the plowback ratio.

A) $24 \%$
B) $46 \%$
C) $54 \%$
D) $60 \%$