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Regal Innovations paid an annual dividend of $1.10 per share. The company anticipates an 8 percent increase in this dividend for the next three years,

Regal Innovations paid an annual dividend of $1.10 per share. The company anticipates an 8 percent increase in this dividend for the next three years, after which it will reduce its dividend growth to 2 percent per year. What is the accurate calculation of the dividend for year 7?

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