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MMM Inc. has an annual cash dividend policy that raises the dividend each year by...

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Finance

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MMM Inc. has an annual cash dividend policy that raises the dividend each year by 13.00 %. Last year's dividend was $2.50 per share. Investors want a 16% return on this stock. What is the price today of this stock if the company will be in business for five years and not have a liquidating dividend (there is no selling price-stock simply cease to exist with no value then)

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