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An investor owns 1,000 shares of stock in a company. The company will pay a $4.60 per share dividend in one year. In two years,

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An investor owns 1,000 shares of stock in a company. The company will pay a $4.60 per share dividend in one year. In two years, the company will pay a liquidating dividend of $65 per share. The required return on the company's stock is 12 percent. Ignore taxes and market imperfections. The investor would rather have equal dividends in each of the next two years. The investor can accomplish this by creating homemade dividends by selling shares of stock in one year. How many shares of stock should be sold in one year to create equal dividends in each of the next two years? Enter your answer in the box shown below with 2 digits to the right of the decimal point. Your

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