Create a valuation summary of International Business Machines Corporation (IBM) using the following information and then filling in the next chart with the specified valuations and ratios. Show your calculations. Computed Value 4.06% Figures for IBM Five-year expected growth Required return Beta 9.76% 1.29 $6.21 $5.39 $137.69 $13.92 Current dividend 5-year average dividend Current share price Projected annual earnings per share, this year Projected annual earnings per share, next year Total revenues Shares outstanding Book value per share $14.11 $80.37 billion 916.00 million $18.48 Price Ratios for IBM 2nd Year 3rd Year 4th Year 1st Year 5th Year (current year) P/E 10.40 9.47 13.56 12.83 18.16 P/CF 9.54 7.65 8.61 9.75 6.22 P/S 1.49 1.45 1.81 1.72 1.30 EPS 11.90 13.42 12.38 6.14 9.52 CFPS 1.08 2.25 1.29 1.36 1.31 SPS 85 85.7 86.5 87.1 87.74 a. Valuation Method Computed Value Dividend Discount Model Residual Income Model Free Cash Flow Model Price Ratio Analysis: Earnings Cash Flow Sales Five-year average price ratio Current value per share 4.06% 8% 6% Growth rate Expected share price Create a valuation summary of International Business Machines Corporation (IBM) using the following information and then filling in the next chart with the specified valuations and ratios. Show your calculations. Computed Value 4.06% Figures for IBM Five-year expected growth Required return Beta 9.76% 1.29 $6.21 $5.39 $137.69 $13.92 Current dividend 5-year average dividend Current share price Projected annual earnings per share, this year Projected annual earnings per share, next year Total revenues Shares outstanding Book value per share $14.11 $80.37 billion 916.00 million $18.48 Price Ratios for IBM 2nd Year 3rd Year 4th Year 1st Year 5th Year (current year) P/E 10.40 9.47 13.56 12.83 18.16 P/CF 9.54 7.65 8.61 9.75 6.22 P/S 1.49 1.45 1.81 1.72 1.30 EPS 11.90 13.42 12.38 6.14 9.52 CFPS 1.08 2.25 1.29 1.36 1.31 SPS 85 85.7 86.5 87.1 87.74 a. Valuation Method Computed Value Dividend Discount Model Residual Income Model Free Cash Flow Model Price Ratio Analysis: Earnings Cash Flow Sales Five-year average price ratio Current value per share 4.06% 8% 6% Growth rate Expected share price