Gontier Corporation stock currently sells for $64.93 per share. The market requires a return of 12 percent on the firms stock.

Required:

If the company maintains a constant 5.5 percent growth rate in dividends, what was the most recent dividend per share paid on the stock? (Do not round intermediate calculations. Round your answer to 2 decimal places (e.g., 32.16).)

Dividend per share

$