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3. Northwest Equipment Company has paid out the following dividend as shown in the table. Year 2020 2019 2018 2017 2016 2015 Annual Dividend Paid

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3. Northwest Equipment Company has paid out the following dividend as shown in the table. Year 2020 2019 2018 2017 2016 2015 Annual Dividend Paid $1.99 $1.89 $1.75 $1.68 $1.55 $1.58 a. What is the growth rate of Northwest's dividend over the period? (2) b. What is the expected dividend for 2017 (2) c. What is the price of Northwest stock assuming a 14% annual expected return? (3)

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