Problem 7-8 Stock Values (LO2) Integrated Potato Chips paid a $1 per share dividend yesterday. You expect the dividend to grow steadily at a rate of 4% per year. What is the expected dividend in each of the next 3 years? (Do not round intermediate calculations. Round your answers to 2 decimal places.) Expected Dividend Year 1 Year 2 Year 3 b. If the discount rate for the stock is 12%, at what price will the stock sell today? (Do not round intermediate calculations. Round your answer to 2 decimal places.) Current price What is the expected stock price 3 years from now? (Do not round intermediate calculations. Round your answer to 2 decimal places.) Future price d. If you buy the stock and plan to hold it for 3 years, what payments will you receive? What is the present value of those payments? (Leave no cells blank - be certain to enter "0" wherever required. Do not round intermediate calculations. Round your answers to 2 decimal places.) Year 2 Year 1 5 Dividend Sale of stock Total cash flow PV of cash flow