AVZ is a start-up company who is using all its cash to growth so it does not plan to pay dividends for the next 4 years. The company then plans to start paying annual cash dividends starting in year 5 of $7.00 for 10 years. Thereafter, the company will assume a constant growth dividend policy and the estimated growth rate in dividends forever after that point is 4%. The price of the stock is set to yield a return of 11% What is the price of this stock today? The price today is $ (Do not use $ sign. Use commas to separate thousands. In this answer, please use TWO decimals in your response and round to the nearest cents. For example if your answer is $1,110.283 then enter 1,110.28) MMM Inc. has an annual cash dividend policy that raises the dividend each year by 12.00%. Last year's dividend was $1.70 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)? The price of this stock today is $(Do not use $ sign. Use commas to separate thousands. Use two decimals. Round to the nearest cent.)