Question 8 Marvellous Corporation has just paid a dividend of $4. Due to the current pandemic situation, Marvellous Corporation has decided to suspend dividend payment for the next year. The company will resume dividend payment in year 2 and is expected to pay a dividend of $3 in year 2. This dividend is expected to grow at 10 percent a year for the next two years. After year 4, the dividend is expected to grow at a constant rate of 4 percent a year, forever. If the required return on this stock is 16 percent, what is the expected price of the stock at year 1