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Miles Hardware has an annual cash dividend policy that raises the dividend each year by 12​%....

Miles Hardware has an annual cash dividend policy that raises the dividend each year by 12​%. Last​ year's dividend, Div0, was $1.50 per share. Investors want a return of 17% on this stock. What is the​ stock's price if

a. the company will be in business for 5 years and not have a liquidating​ dividend? $________ (Round to the nearest​ cent.)

b. the company will be in business for 15 years and not have a liquidating​ dividend? $________ (Round to the nearest​ cent.)

c. the company will be in business for 30 years and not have a liquidating​ dividend? $________ (Round to the nearest​ cent.)

d. the company will be in business for 40 years and not have a liquidating​ dividend? $________ (Round to the nearest​ cent.)

e. the company will be in business for 70 years and not have a liquidating​ dividend? $________ (Round to the nearest​ cent.)

f. the company will be in business​ forever? $________ (Round to the nearest​ cent.)

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jeff jeffy answered 6 months ago
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