Question: Problem 14-08 Stock Split Fauver Enterprises declared a 5-for-1 stock split last year, and this year its dividend is $0.90 per share. This total dividend

Problem 14-08 Stock Split

Fauver Enterprises declared a 5-for-1 stock split last year, and this year its dividend is $0.90 per share. This total dividend payout represents a 7% increase over last year's pre-split total dividend payout. What was last year's dividend per share? Round your answer to the nearest cent.

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