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IBM just paid an annual dividend of $3.3 per share. The dividend is expected to grow by 5% per year. The required rate of return

IBM just paid an annual dividend of $3.3 per share. The dividend is expected to grow by 5% per year. The required rate of return is 12%.

What is the best estimate of the current stock price?

What is the best estimate of the stock price in 5 years?

What is the best estimate of the stock price in 20 years?

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