The risk free rate is .02 and the market rate is .15.

1 Use the info below and the zero growth model to find Pitney Bowes value.

Beta	1.20
Dividend	$0.75
Shares outstanding	189,000,000

2. Use the info below and the non-zero growth model to find 3Ms value.

Beta	0.95
Next years dividend	$5.82
Growth rate	0.08
Shares outstanding	570,000,000

3. Use the info below and the non-zero growth model to find ABBs value.

Beta	0.95
Next years dividend	$1.06
Growth rate	0.05
Shares outstanding	2,130,000