IBM just paid an annual dividend of $3.8 per share. The dividend is expected to grow by 3% per year. The required rate of return is 12%

1) What is the best estimate of the current stock price?

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

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

ABC Corp. has just paid a quarterly dividend of $0.3. ABC's dividends will grow by 5% for the next 4 quarters, and then grow by 0.4% thereafter. ABC has a quarterly required return of 4%

4) What is the intrinsic value of ABC stock?