The common stock of Roya Inc. has a required return of 8% and a current market price of $55. The company pays its dividend annually and increases its amount by 4% each year. You own 505 shares of this stock. What was the approximate total amount of the last dividend you received? Hint: you need to find the expected dividend first. $1,111. $0. $1,081. $1,068. $2,778