Presented here are summarized data from the balance sheets and income statements of Wiper Inc.:

WIPER INC.
Condensed Balance Sheets
December 31, 2020, 2019, 2018
(in millions)
	2020			2019			2018
Current assets	$	771		$	991		$	853
Other assets		2,425			1,932			1,731
Total assets	$	3,196		$	2,923		$	2,584
Current liabilities	$	589		$	842		$	735
Long-term liabilities		1,588			1,043			919
Stockholders equity		1,019			1,038			930
Total liabilities and stockholders' equity	$	3,196		$	2,923		$	2,584

WIPER INC.
Selected Income Statement and Other Data
For the year Ended December 31, 2020 and 2019
(in millions)
	2020			2019
Income statement data:
Sales	$	3,062		$	2,925
Operating income		308			322
Interest expense		96			77
Net income		227			222
Other data:
Average number of common shares outstanding		42.5			47.9
Total dividends paid	$	62.0		$	53.5

Required:

1. If Wiper's stock had a price/earnings ratio of 13 at the end of 2020, what was the market price of the stock?
2. Calculate the cash dividend per share for 2020 and the dividend yield based on the market price calculated in part e.
3. Calculate the dividend payout ratio for 2020.