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A firm’s dividends have grown over the last several years. At the end of the year 2002, the firm paid a dividend of $1. At year-end 2014, it paid a dividend of $5. What was the average compound growth rate of dividends for this firm? ALL WORK MUST BE SHOWN!

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A firm’s dividends have grown over the last several years. At the

end of the year 2002, the firm paid a dividend of $1. At year-end 2014, it paid a dividend of $5. What was the average compound growth rate of dividends for this firm?

ALL WORK MUST BE SHOWN!

 
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