Problem 7-12 Dividend Discount Model (LO2) Integrated Potato Chips just paid a $11 per share dividend. You expect the dividend to grow steadily at a rate of 5% per year. a. What is the expected dividend in each of the next 3 years? (Do not round intermediate calculations. Round your answers to 2 10 points decimal places 2 Expected Dividend 1.06 12.13 12.73 Year 2 b. if the discount rate for the stock is 11%, at what price will the stock sell today? (Do not round intermediate calculations. Round your answer to 2 decimal places.) 192 Prev 1 of 20 Next >