12. dividend discount model. integrated potato chips just paid a $1 per share dividend. you expect the dividend to grow steadily at a rate of 4% per year. (lo7-2) a. what is the expected dividend in each of the next 3 years? b. if the discount rate for the stock is 12%, at what price will the stock sell? c. what is the expected stock price 3 years from now? d. if you buy the stock and plan to sell it 3 years from now, what are your expected cash flows in (i) year 1; (ii) year 2; (iii) year 3? e. what is the present value of the stream of payments you found in part (d)? compare your answer to part (b).