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Additional Problem 13-5 Required: Hornberger, Incorporated recently paid a dividend of $2.00 per share. The next dividend is expected to be $2.07 per share. Hornberger
Additional Problem 13-5 Required: Hornberger, Incorporated recently paid a dividend of $2.00 per share. The next dividend is expected to be $2.07 per share. Hornberger has a return on equity of 11.80%. What percentage of its earnings does Hornberger plow back into the firm? (Do not round intermediate calculations. Round your answer to 2 decimal places.)
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