Use the Dividend Constant Growth Model to value the stock and complete the table using excel. Describe the results.

3M Company (NYSE MMM) Stock valuation per Dividend Growth Model Stock value =D1 / (Required Return - Growth) CAGR of dividend (use the calculator for this ) Dividend D. Dividend D1 Stock valuation if required r = 19% Stock price at 6/2/2017 $206.70 2016 2012 2.36 2013 2.54 2014 3.42 2015 4.10 Dividend History 4.44 CAGR = Compound Annual Growth Rate of the dividend