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Four years ago, Bling Diamond, Inc., paid a dividend of $ 1 . 2 4 per share. The firm paid a dividend of $ 1

Four years ago, Bling Diamond, Inc., paid a dividend of $1.24 per share. The firm paid a dividend of $1.87 per share yesterday. Dividends will grow over the next five years at the same rate they grew over the last four years. Thereafter, dividends will grow at 4 percent per year. What will the firms cash dividend be in seven years?

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