Question: After a 4 - for - 1 stock split, Perry Enterprises paid a dividend of $ 1 . 2 0 per new share, which represents

After a 4-for-1 stock split, Perry Enterprises paid a dividend of $1.20 per new share, which represents a 4% increase over last year's pre-split dividend. What was last year's dividend per share? Round your answer to the nearest cent.

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