Answers
Kate had made an investment of $32,000. The investment is giving an annual gross dividend of 3% before tax.
Year Investment value Gross Dividend Kate tax Incremental investment
1 32000 960 144 (15%) 816
2 32816 984 148 (15%) 836
3 33652 1010 242 (24%) 768
4 34420 1033 248 (24%) 785
5 35205 1056 253 (24%) 803
6 36008
Investment value at the beginning of 6th year is $ 36,008.
Since, no dividend has been indicated for the subsequent years, it is assumed that keeping in view of past trend of 3% payout will be maintained by the stock from 6th year.
6 36008 1080 378 (35%) 702
7 36710 1101 385 (35%) 715
8 37425 1123 393 (35%) 730
9 38155
Kate investment value will be $38155 at the beginning of 9th year.
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