Presented below are balances taken from the records of Armor Corporation for 2020: 8% Preference Share Capital, ₱80 par

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Presented below are balances taken from the records of ArmorCorporation for 2020:8% Preference Share Capital, ₱80 par = ₱2,000,000Subscribed Preference Share Capital = ₱350,000Subscriptions Receivable-Preference = ₱120,000Ordinary Share Capital, ₱30 par = ₱1,500,000Subscribed Ordinary Share Capital = ₱660,000Subscriptions Receivable-Ordinary = ₱245,000Accumulated Profits-Free = ₱3,250,000Treasury Shares-Preference (at cost: ₱85) = ₱201,875
Assume preference shares are cumulative and participating. Thelast dividend declaration was in 2017. During the year, Armordeclared cash dividends amounting to ₱820,000. Howmuch is the cash dividend per ordinary share? Round offyour answer to two decimal places.