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PLEASE ANSWER ASAP Colgate-Palmolive Company has just paid an annual dividend of $1.02. Analysts are predicting an 11.6% per year growth rate in earnings over

image text in transcribedPLEASE ANSWER ASAP

Colgate-Palmolive Company has just paid an annual dividend of $1.02. Analysts are predicting an 11.6% per year growth rate in earnings over the next five years. After that, Colgate's earnings are expected to grow at the current industry average of 5.7% per year. If Colgate's equity cost of capital is 8.2% per year and its dividend payout ratio remains constant, for what price does the DDM predict Colgate stock should sell? The value of Colgate's stock is $ (Round to the nearest cent.)

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