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Jack owns 450 shares of M&M Enterprises and earns 12.9 percent on his investment. M&M recently stated that it will pay dividends per share of
Jack owns 450 shares of M&M Enterprises and earns 12.9 percent on his investment. M&M recently stated that it will pay dividends per share of $.69 this year and $.72 next year. Jack does not want any dividend income this year but does want as much dividend income as possible next year. Ignoring taxes, what will Jack's total homemade dividend be next year?
A: 352.50
B: 374.75
C: 430.50
D: 541.80
E: 674.55
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