DPS Calculation

Thress Industries just paid a dividend of $3.50 a share (i.e., D₀ = $3.50). The dividend is expected to grow 4% a year for the next 3 years and then 10% a year thereafter. What is the expected dividend per share for each of the next 5 years? Do not round intermediate calculations. Round your answers to the nearest cent.

D₁ = $ WRONG ANS: 3.61

D₂ = $ WRONG ANS: 3.71

D₃ = $ WRONG ANS: 3.82

D₄ = $ WRONG ANS: 4.21

D₅ = $ WRONG ANS: 4.63