Mayson Ltd. reported net income of £3,500,000 for last year. The company had 100,000 shares of common stock outstanding with a par value of £1 and 5,000 shares of common stock in treasury during the year. Mayson declared and paid dividends of £1 per share on its common stock. The market price per common share at the end of last year was £30, while the book value per common share was £10. The company’s dividend yield for the year was