Well-Bred Service Company earned $50,000,000 during 2005 and paid $20,000,000 in dividends to the holders of its 40 million shares. If the current market price of Well-Bred's stock is $31.25, calculate the following:
(a) the company's dividend payout ratio;
(b) the nominal dividend per share, assuming Well-Bred pays dividends annually;
(c) the nominal dividend per share, assuming Well-Bred pays dividends in equal quarterly payments; and
(d) the current dividend yield on Well-Bred stock.