Given the expression 0.08 ÷ 2 = 0.04, we are to determine the nature of the value 0.08.
Generally, if we have an expression in the form;

The output c is the QUOTIENT
a is the DIVIDEND
b is the DIVISOR
Comparing the values with the expression given;

We can see that 'a' is equivalent to 0.08, showing that it is a DIVIDEND. Hence option 1 is correct. The DIVIDEND is 0.08