please answer all parts. thank you! will thumbs up for correct answers.

Intro IBM just paid an annual dividend of $4 per share. The dividend is expected to grow by 3% per year. The required rate of return is 12%. Part 1 Attempt 1/3 for 10 pts. By DDM, what is the price to sell the stock in 3 years? Part 2 Attempt 1/3 for 10 pts. If you buy the stock today, hold it, sell it in 3 years at the price computed in Part 1 , what is the present value of those 3 future cashflows (D1,D2,D3+P3) you will receive? Instead of discounting 3 future cashflows (D1,D2,D3+P3), by discounting all future dividends up to infinity, what is the current stock price? Part 4 Attempt 1/2 for 10 pts. You should get the same P0 from Part 2 and Part 3. What is one critical condition leading to the same P0 from two different discounting methods? The critical condition is the assumption of a constant discount rate r used for every period. The same P0 is a coincidence; there is no such critical condition. The critical condition is that P3 is the present value at t=3 of all future dividends (i.e., D4,D5,D6, and on). The critical condition is the assumption of constant growth rate of dividend