Roys welding supplies common stock currently sells for 22


Roy's Welding Supplies common stock currently sells for $22. The last annual dividend was just paid this morning, and dividends are expected to increase at a constant 5 percent annually. The market rate of return on this stock is 9 percent. What was the amount of the dividend that was paid this morning?

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Financial Management: Roys welding supplies common stock currently sells for 22
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