The following data for 3M Corporation is for the last fiscalyear ending in December of 2017 Ticker s

The following data for 3M Corporation is for the last fiscalyear ending in December of 2017 Ticker symbol: MMM Price close at fiscal year end: $ 150.64 NAICS code: 322220 Dividend payout ratio: 39.58% Dividend yield at fiscal year end: 2.722% Dividends per share: $ 4.10 ROE: 41.28% Common equity total: $ 12,048 million Preferred stock total: 0 Long term debt total: $ 11,079 million Interest expense: $ 180 million P/E: 20.36 Tax rate: 29.05% FCF/share for the next year: $ 3.935 Common shares outstanding for the next year: 609.33 million The growth rate for free cash flow is 8.00% Return of the S&P 500 at year end 2016 was 11.96% U.S. 20 year treasury bond at year end was paying 2.67% (usedfor risk free rate) Calculate: 1-The growth rate g 2-The cost of equity k (hint: use the CAPM formula for this) 3-The valuation of the stock using the DDM 4-Total capital 5-Weight of debt 6-Weight of equity 7-Cost of debt 8-The value of the WACC 9-The value per share using the corporate valuation model 10-Based on the DDM is the stock overvalued or undervalued andby how much 11-Based on the corporate valuation model is the stockovervalued or undervalued and by how much . . .

 

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