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According to S&P analyst Angelo Zino, Qualcomm will pay $6.00, $9.00, and $13.00 in dividends over the next three years in that order. Angelo expects

According to S&P analyst Angelo Zino, Qualcomm will pay $6.00, $9.00, and $13.00 in dividends over the next three years in that order. Angelo expects dividends to grow at 2 percent perpetual rate thereafter. If Angelo believes that investments with similar risk offer 9 percent return, what is the price estimate for Qualcomm?

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