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The Miller Milk Company has just come up with a new lactose-free dessert product for people who can't eat or drink ordinary dairy products. Management

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The Miller Milk Company has just come up with a new lactose-free dessert product for people who can't eat or drink ordinary dairy products. Management expects the new product to fuel sales growth 32 for about two years. After that competitors will copy the idea and produce similar products, and growth will return to about 3%, which is normal for the dairy industry in the area. Miller recently pad an annual dividend of $2.40, which will grow with the company. The return on stock marto Miler's is typically around 10%. What is the most you would pay for a share of Mer Round PVF values in intermediate actions to four decimal places. Round the answer to two decimal places

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