The stock for TM Consulting, and all-equity firm, is currently trading at $42 per share, after just having paid a $2.30 per share dividend. Management has not announced their specific dividend amount for next year, but they insist that they will pay a dividend. If analysts project the stock price to be $45.20 after next year's dividend is paid out, and the equity cost of capital (also the discount rate for equity) is 13% for this firm, the expected dividend (for t = 1) must be