Question: Give correct and proper answer in step by step mannner 7. A company just paid a dividend of $0.40. The dividends are expected to grow

Give correct and proper answer in step by step mannner

Give correct and proper answer in step by step mannner 7. A

7. A company just paid a dividend of $0.40. The dividends are expected to grow at a rate of 7% for the next six years and then at a rate of 4% thereafter. The expected dividend in year 8 is

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