The Common Stock of JL Recyclers Has a Required Return

The common stock of JL Recyclers has a required return of 12 percent and a current value of $18.72.The company pays its dividend annually and increases the amount by 4 percent each year.You own 300 shares of this stock.What was the total amount of the last dividend you received?

A) $319
B) $360
C) $432
D) $480
E) $513