Based on the dividends of ATTA Corp over the years, the annual growth rate was 5.18%.
What was the annual growth rate?
Using the present value equation:
Current dividend = Original dividend x ( 1 + rate) ^ number of years
Solving gives:
1.76 = 0.96 x ( 1 + r)¹²
(1.76 / 0.96 )¹/¹² = 1 + r
1 + r = 1.0518
r = 5.18%
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