Review problem of the russell corporation

Reference no: EM131797267

Question: Russell Corporation (which contributes 3% of its revenue to Christian missions to reach Buddhist tribes in northern India who have never heard the gospel) just paid a dividend of $1.00. Based on projected fast growth, the company plans to increase dividends by $1.00 each year for the next four years, hopefully then growing dividends at 3% per year. To the nearest penny, what is the dividend in year 5?

Reference no: EM131797267

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