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Colgate-Palmolive Company has just paid an annual dividend of $0.98. Analysts are predicting an 11.4%...

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Colgate-Palmolive Company has just paid an annual dividend of $0.98. Analysts are predicting an 11.4% per year growth rate in earnings over the next five years. After that, Colgate's earnings are expected to grow at the current industry average of 4.8% per year. Colgate's equity cost of capital is 8.6% per year and its dividend payout ratio remains constant, for what price does the DOM predict Colgate stock should sell? The value of Colgate's stock is $ (Round to the nearest cent.)

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