Average annual compound growth rate of dividends

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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 of 2014, it paid a dividend of $5. What was the average annual compound growth rate of dividends for this form? Round the answer to two decimals places in percentage form. Show work.

Reference no: EM13980905

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