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IBM stock has earned free cash flow (FCF0) of $3.00 millions. FCF is expected to grow 6% a year. IBM's equity required return is 12%

IBM stock has earned free cash flow (FCF0) of $3.00 millions. FCF is expected to grow 6% a year. IBM's equity required return is 12% and its WACC is 9%. What is IBM's expected value of operations 3 years from now? return on stock 11%

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