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An ordinary share pays annual dividends and is expected to pay a dividend of $3 in one year. The annual dividend will grow at 8%

An ordinary share pays annual dividends and is expected to pay a dividend of $3 in one year. The annual dividend will grow at 8% until the end of year 4. The growth rate then becomes 4% p.a. forever.

Calculate the following dividend.

Round your answer to the nearest cent. Do not include $. Do not use comma separators. For example, 1234.56 would be the correct format.

The dividend payable at the end of year 3 is $_____

The dividend payable at the end of year 6 is $_____

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