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After a 4-for-1 stock split, Strasburg Company paid a dividend of $0.8 per new share, which represents a 7% increase over last year's pre-split dividend.

After a 4-for-1 stock split, Strasburg Company paid a dividend of $0.8 per new share, which represents a 7% increase over last year's pre-split dividend. What was last year's dividend per share? Round your answer to the nearest cent.

Please show calculation. Thanks!

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