Question 1: The Dubai Ice Park LLC 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 3% in one year and by another 12% in two years, and by another 20% in three years. After that dividends will increase at a rate of 6% per year indefinitely (a) If the last dividend paid was $50 and the required return is 25%, how much IMG would be worth today using the Dividend Discount Model? (4 marks]