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Suppose 3M is currently trading for $149.79 per share. The company is expected to pay the following annual dividends on its common stock over the

image text in transcribed Suppose 3M is currently trading for $149.79 per share. The company is expected to pay the following annual dividends on its common stock over the next 3 years: $1.5, $2.5, and $2 at the end of year 1,2 , and 3 respectively. Find the expected price (exdividend) for 3M 's stock in 3 years from today just before the last dividend is paid if their expected return is estimated to be 14.44% per year (hint: the 14.44% percent is not a holding period return). Answer Format: INCLUDE ONLY NUMBERS AND DECIMALS IN YOUR ANSWER. Do not include "\$" "," or any other formatting. Carry interim computations to at least 4 decimals. Enter numerical answers as a positive number rounded to 2 decimal places (\#\#\#.\#\#)

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