Latino lnc. employs a residual dividend policy which pays on an annual basis. This year, Latino inc. funded $7.5 million in projects, with 40% of total funds coming from equity. Latino Inc. always uses internal equity first, before issuing new equity. Net income in the current year totaled $3.7 million. There are 120000 shares outstanding. How much did Latino inc. pay per share in its residual dividend? ( 2 decimal places)