Last year, Spokane Lumber paid an annual dividend of $1.10 per share. The company recently announced that
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Last year, Spokane Lumber paid an annual dividend of $1.10 per share. The company recently announced that it will be increasing its dividend by 5 percent, 4 percent, and 3 percent per year over the next 3 years, respectively. After that, the dividend will increase by a constant 2.5 percent annually. How much is the dividend expected to be 6 years from now?
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