(Answered) On march 19 2012 apple aapl announced plans to begin paying

Finance

On March 19, 2012, Apple (AAPL) announced plans to begin paying dividends for the first time since 1995. According to the release, Apple will pay out a $2.45 per share quarterly dividend. You believe the dividend will increase by 3.5 percent each year indefinitely. Round answers to two decimal places.

a. How large will the annual dividend be in five years?

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