Problem:
Four years ago, Bling Diamond, Inc., paid a dividend of $1.29 per share. Bling paid a dividend of $1.9 per share yesterday. Dividends will grow over the next five years at the same rate they grew over the last four years. Thereafter, dividends will grow at 8% per year.
Required:
Question: What will Bling Diamond's cash dividends be in seven years?
Note: Please show basic calculation