.

$10 Dividend tax per year$15 Dividend tax per year

.

YearPresent ValueCumulative ValuePresent ValueCumulative Value

.

Discount Rate2.5%2.5%2.5%2.5%

.

1-$10$9.76$9.76-$15$14.63$14.63

.

2-$10$9.52$19.27-$15$14.28$28.91

.

3-$10$9.29$28.56-$15$13.93$42.84

.

4-$10$9.06$37.62-$15$13.59$56.43

.

5-$10$8.84$46.46-$15$13.26$69.69

.

6-$10$8.62$55.08-$15$12.93$82.62

.

7-$10$8.41$63.49-$15$12.62$95.24

.

8-$10$8.21$71.70-$15$12.31$107.55

.

9-$10$8.01$79.71-$15$12.01$119.56

.

10-$10$7.81$87.52-$15$11.72$131.28

.

11-$10$7.62$95.14-$15$11.43$142.71

.

12-$10$7.44$102.58-$15$11.15$153.87

.

13-$10$7.25$109.83-$15$10.88$164.75

.

14-$10$7.08$116.91-$15$10.62$175.36

.

15-$10$6.90$123.81-$15$10.36$185.72

.

16-$10$6.74$130.55-$15$10.10$195.83

.

17-$10$6.57$137.12-$15$9.86$205.68

.

18-$10$6.41$143.53-$15$9.62$215.30

.

19-$10$6.26$149.79-$15$9.38$224.68

.

20-$10$6.10$155.89-$15$9.15$233.84

.

21-$10$5.95$161.85-$15$8.93$242.77

.

22-$10$5.81$167.65-$15$8.71$251.48

.

23-$10$5.67$173.32-$15$8.50$259.98

.

24-$10$5.53$178.85-$15$8.29$268.27

.

25-$10$5.39$184.24-$15$8.09$276.37

.

26-$10$5.26$189.51-$15$7.89$284.26

.

27-$10$5.13$194.64-$15$7.70$291.96

.

28-$10$5.01$199.65-$15$7.51$299.47

.

29-$10$4.89$204.54-$15$7.33$306.80

.

30-$10$4.77$209.30-$15$7.15$313.95