Each quarter, Transam Ltd pays a dividend on its perpetual preference share. Today, the share is

selling at $$83\mathrm{.}45.$ If the required rate of return for such shares is $10\mathrm{.}5$ percent, what is the quarterly dividend

paid by this company?

I saw the solution for this querstion on chegg but I saw the solution somewhere else. On chegg the first annual dividend has been calculated and then that is divided by $4$ whereas in my college notes the rate was considered as APR and divided by $4$ first and then the dividend value was caluclated. Are both methods correct and same? If yes can you please explain how are they same. What is thew maths involved.