Please do not give excel answers, show your calculations. Thank you.

The Dubai Ice Park LIC has been witnessing good sales in the last few quarters of its operations. The firm's upper management seriously believes that shareholders should be rewarded. As a result, the firm is expected to increase dividends by 8% in one year and by another 11% in two years, by another 16% in three years. After that, dividends will increase at a rate of 5% per year indefinitely. (a) If the last dividend paid was $50 and the required return is 30%, how much Dubai Ice Park would be worth today using the Dividend Discount Model? [5 marks] (b) What is the expected stock price in year 3? Show your workings. [2 marks] (c) Evaluate the impact on the firm's value if the management decided to change the dividend growth rate in year 4 to 12% indefinitely. [3 marks] (d) Recommend 3 alternative financial tools which a shareholder might apply when deciding whether or not to buy an ordinary share. [3 marks] (e) What are the 2 ways you can receive cash when investing in a stock? Give an example of each. [2 marks]