Question: Kellogg Co. (K) recently earned a profit of $2.52 per share and has a P/E ratio of 13.5. The dividend has been growing at a

Kellogg Co. (K) recently earned a profit of $2.52 per share and has a P/E ratio of 13.5. The dividend has been growing at a 5 percent rate over the past few years. If this growth rate continues, what would be the stock price in five years if the P/E ratio remained unchanged? What would the price be if the P/E ratio declined to 12 in five years?

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