JJ Industries will pay a regular dividend of $1.20 per share for each of the next four years.
At the end of four years, the company will also pay out a liquidating dividend. If the discount rate is 8 percent, and the current share price is $52, what must the liquidating dividend be?
(Do not round intermediate calculations. Round your answer to 2 decimal places. Omit the "tiny_mce_markerquot; sign in your response.)