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Fab Co has just paid a dividend of $1.5. The company pays dividends annually. Dividends are expected to grow at 12% pa for the next

Fab Co has just paid a dividend of $1.5. The company pays dividends annually. Dividends are expected to grow at 12% pa for the next two years and for 4% thereafter for the foreseeable future. How much will the dividend be at the end of the fifth year?

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