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Given the following dividend pattern for the following years, Year 1 3.00 Year 2 3.30 Year 3 3.70 Year 4 4.05 Year 5 4.10 Year

Given the following dividend pattern for the following years,

Year 1 3.00

Year 2 3.30

Year 3 3.70

Year 4 4.05

Year 5 4.10

Year 6 4.50

Year 7 7.00

What is the (annual) geometric rate of growth?

A. 15.17%

B. 18.47%

C. 12.87%

D. 16.35%

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