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ABC Incorporated just paid a dividend of $0.91 on its common stock. Joe forecasts that the dividends for ABC will grow at a constant rate of 9.1% over the foreseeable future. Assuming that he is correct, how many total dollars of dividends should Joe expect to receive over the next five years? That is, what is the sum of D1, D2, D3, D4, and D5 (the forecasted dividends for Year 1, Year 2, Year 3, Year 4, and Year 5) (Show your answer to the penny)

Financial Management, Finance

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