3. There is an example based on a study of Intel Corporation that used a present value model (Comell 2001), examined what future revenue growth rates were consistent with Intel's stock price of $61.50 just prior to its earnings announcement, and S43.31 only five days later. That example states, "Using a conservatively low discount rate, Cornell estimated that Intel's price before the announcement, $61.50, was consistent with a forecasted growth rate of 20 percent a year for the subsequent 10 years and then 6 percent per year thereafter." Discuss the implications of using a higher discount rate than Cornell did