(Solved): Miles Hardware has an annual cash dividend policy that raises the dividend each year by 12%. Last y ...

Miles Hardware has an annual cash dividend policy that raises the dividend each year by $12\%$. Last year's dividend, Div 0 , was $\$1.70$ per share. Investors want a return of $17\%$ on this stock. What is the stock's price if a. the company will be in business for 5 years and not have a liquidating dividend? b. the company will be in business for 15 years and not have a liquidating dividend? c. the company will be in business for 30 years and not have a liquidating dividend? d. the company will be in business for 50 years and not have a liquidating dividend? e. the company will be in business for 85 years and not have a liquidating dividend? f. the company will be in business forever? a. What is the price of this stock if the company will be in business for 5 years and not have a liquidating dividend? (Round to the nearest cent.)