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Carl Patterson likes Investing in stocks that pay dividends. Carl owns 85 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 85 shares of a local utility company. The stock pays a regular annual dividend in the amount of $3.75 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 6 percent each year, how much will Carl accumulate in 15 years? Use Exhibit 1-A. Exhibit 1-8. 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. Future value annuity

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