APT INC. just paid a dividend of $3.00 per share. The future dividends are expected to grow at 20 percent per year for the next four years and then grow at 6 percent per year thereafter. Calculate the expected dividend in year 5.

APT INC. just paid a dividend of $3.00 per share. The future dividends are expected to grow at 20 percent per year for the next four years and then grow at 6 percent per year thereafter. Calculate the expected dividend in year 5.

$6.59

$6.22

$2.64

$7.46