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IMC Inc. just announced that future dividends will increase by 2.5% after paying an annual dividend of $1.20 per share last year. What is IMC's

IMC Inc. just announced that future dividends will increase by 2.5% after paying an annual dividend of $1.20 per share last year. What is IMC's expected dividend in year 3?

Group of answer choices

$1.21

$1.23

$1.26

$1.29

$1.32

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