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Fauver Enterprises declared a 4-for-1 stock split last year, and this year its dividend is $1.00 per share. This total dividend payout represents an 11% 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. ++ 3 W

Fauver Enterprises declared a 4-for-1 stock split last year, and this year its dividend is $1.00 per share. This total dividend payout represents an 11% 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. ++ 3 W

Essentials Of Investments
Essentials Of Investments
11th Edition
ISBN:9781260013924
Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Chapter1: Investments: Background And Issues
Section: Chapter Questions
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Fauver Enterprises declared a 4-for-1 stock split last year, and this year its dividend is $1.00 per share. This total dividend payout represents an 11% 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. ++ 3 W
Transcribed Image Text:Fauver Enterprises declared a 4-for-1 stock split last year, and this year its dividend is $1.00 per share. This total dividend payout represents an 11% 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. ++ 3 W
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