You've collected the following information from your favorite financial website. 52-Week Price PE Net Lo Hi 64.60 Div Yld % 1.9 Close Price 62.91 Ratio 235.6 Chg 47.80 -05 145.94 70.28 1.8 70.9 139.71 62 Stock (Div) Abbott 1.12 Ralph Lauren 2.50 IBM 6.30 Duke Energy 3.56 Disney 168 171.13 139.13 4.3 23.8 145.39 19 91.80 71.96 4.9 17.6 74.30 84 113.19 96.20 15.5 22 -10 According to your research, the growth rate in dividends for IBM for the next 5 years is expected to be 5 percent Suppose IBM meets this growth rate in dividends for the next five years and then the dividend growth rate falls to 3.5 percent indefinitely. Assume investors require a return of 10 percent on IBM stock. a. According to the dividend growth model, what should the stock price be today? (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.) b. Based on these assumptions, is the stock currently overvalued, undervalued, or correctly valued? a. Current stock price b. Valuation