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Suppose that, back in the day, my grandmother Cornelia Salt built a dairy farm empire and was famous for her healthy but bitter milk beverage called Nurse Salt. Nurse Salt, Inc, (NSI) went public on July 4th, 1976 to celebrate our country's bicentennial. It was initially called the "Salt of America." Since then, every day on our country's birthday, NSI provides a 7-for-4 stock split. NSI also has stated that it will begin issuing an annual 77.6% percent stock dividend beginning in the year 2000 on top of its usual 7-for-4 stock split. If you bought only one share of NSI on November 2, 2005, how shares of stock would you have on October 1, 2010?
A. 258,280,326
B. 290
C. 4,760
D. 29
E. 47,600
The Frisco Company just paid $2.20 as its annual dividend. The dividends have been increasing at a rate of 4% annually and this trend is expected to continue.
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