Question: Problem 7-6 Stock Valuation [LO 1] Suppose you know that a company's stock currently sells for $66.10 per share and the required return on the

Problem 7-6 Stock Valuation [LO 1] Suppose you know that a

Problem 7-6 Stock Valuation [LO 1] Suppose you know that a company's stock currently sells for $66.10 per share and the required return on the stock is 9 percent. You also know that the total return on the stock is evenly divided between capital gains yield and dividend yield. If it's the company's policy to always maintain a constant growth rate in its dividends, what is the current dividend per share? (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.) Dividend per share

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