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Carl Patterson likes investing in stocks that pay dividends. Carl owns 30 shares of a local utility company. The stock pays a regular annual dividend

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Carl Patterson likes investing in stocks that pay dividends. Carl owns 30 shares of a local utility company. The stock pays a regular annual dividend in the amount of $1.00 per share, and the company has indicated that the dividend will stay the same for a long time. If Carl reinvests his dividends each year and the dividends earn a return of 5 percent each year, how much will Carl accumulate in 14 years? Use Exhibit 1-A, Exhibit 1-B. Exhibit 1-C. Exhibit 1.D. Note: Use appropriate factor(s) from the tables provided. Do not round your intermediate calculations. Round time value factor to 3 decimal places and final answer to 2 decimal places

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