Conduct the following valuation analyses of Apple Inc. as of the end of 2018 and the end of 2022 in EXCEL: 1. Compute Apples Beta and required return using the CAPM. Use 3 years of daily data to calculate Apples beta. Use historical return data for AAPL and for the SPY ETF. For your required return, use the 10-yr t-bill rate as a risk free rate and a 5% market risk premium. 2. Present 3 different dividend discount models (DDM) for Apples stock value for each of a) the end of 2018, and b) then end of 2022. You should use the techniques we have covered in class, though you may want to modify them to allow for different dividend growth rates or different horizons for changing growth rates in the future. a. A DDM that justifies Apples stock price at that time b. A DDM based on your best estimates of the growth in Apples dividends in the future. Make sure to provide a reasoned discussion of why you choose particular growth rates and how they evolve over time moving forward. You will want to discuss Apples overall prospects moving forward and the key determinants of their success or failure that will lead to those expected growth rates. c. A DDM that a value investor would apply

*** Please do work in excel and use yahoo finance for data ***