IBM just paid a dividend of $1.6 per share. You expect IBM's dividend to grow at...

IBM just paid a dividend of $1.6 per share. You expect IBM's dividend to grow at a rate of 9%

per year for the next three years, and then you expect constant dividend growth of 4% forever.

Based on the risk of IBM stock, you require a return of 13%. Using the dividend discount model,

what is the value of IBM stock?

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jeff jeffy answered 3 days ago

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