$11$

Problem $7-20$ Finding the Dividend $[$LO $1]$

$5$ points

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References

Matterhorn Corporation stock currently sells for $$64\mathrm{.}98$ per share. The market requires a return of $9$ percent on the firm's stock. If the company maintains a constant $5\mathrm{.}75$ percent growth rate in dividends, what was the most recent dividend per share paid on the stock? Note: Do not round intermediate calculaqtions and round your answer to $2$ decimal places, e$.$g$.,32\mathrm{.}16.$

Dividend per share