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Miles Hardware has an annual cash dividend policy that raises the divider each year by 11%. Last year's dividend, Div 0, was $1.45 per share.

image text in transcribed Miles Hardware has an annual cash dividend policy that raises the divider each year by 11%. Last year's dividend, Div 0, was $1.45 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? b. the company will be in business for 15 years and not have a liquidating dividend? c. the company will be in business for 25 years and not have a liquidating dividend? d. the company will be in business for 50 years and not have a liquidating dividend? e. the company will be in business for 70 years and not have a liquidating dividend

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