Stock Valuation. Investors require a 20 percent per year return on the stock of M Company. Yesterday M Company paid a $2 dividend (dividends are paid annually). The dividend is expected to grow 30...

Stock Valuation. Investors require a 20 percent per year return on the stock of M Company. Yesterday M Company paid a $2 dividend (dividends are paid annually). The dividend is expected to grow 30 percent per year for the next 2 years and at 8 percent per year thereafter. At what price should the stock sell?