Dt motors paid its first annual dividend yesterday in the, Financial Management

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Dt motors paid its first annual dividend yesterday in the

DT Motors paid its first annual dividend yesterday in the amount of $4.15 a share. The company plans to increase the dividend at a rate of 20 percent per year for the next 3 years. Thereafter, the dividend is expected to grow at 4 percent per year indefinitely. What is the amount of the dividend that is expected to be paid seven years from now (D₇)?

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