### What was the last dividend paid on the stock

A share of common stock has an expected long-run constant growth rate of 10 percent and is currently priced at $66 per share. If investors require a 15 percent rate of return, then what was the last dividend paid on the stock? Po = Dn (1 +Gc) __________ Ke - Gc $66 = D1 (1 + .10) _____________