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Colgate-Palmolive Company has just paid an annual dividend of $ 1.96.Analysts are predicting dividends to...

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Finance

Colgate-Palmolive Company has just paid an annual dividend of $ 1.96.Analysts are predicting dividends to grow by $ 0.17 per year over the next five years. After then, Colgate's earnings are expected to grow 6.2 %per year, and its dividend payout rate will remain constant. If Colgate's equity cost of capital is 7.3 %per year, what price does the dividend-discount model predict Colgate stock should sell for today?

The price per share is

$

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