Question $1(1$ point$)$

Shares of Alphabet Inc. are trading for $$1060.$ Alphabet doesn't currently pay a dividend. Assume that it will commence paying annual dividends $4$ years from today. Once started, it will pay dividends in perpetuity and they will grow at an annual rate of $2\mathrm{.}25\%.$ Alphabet investors require a return of $11\mathrm{.}75\%.$ What dividend is the market using to arrive at its current valuation?

Enter you answer rounded to $2$ decimal places.

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