Question: Question 3 2 ( 8 points ) Marvin Inc plans to pay a dividend of $ 3 per share in year 4 . The company

Question 32(8 points)
Marvin Inc plans to pay a dividend of $3 per share in year 4. The company then
expects to increase the dividend by 3% per year for the next two years (years 5 and
. After that, the dividends will decrease by 4% indefinitely. The required rate of
return is 10%. What is the current value of the stock?
Question 32(8 points) Marvin Inc plans to pay a dividend of

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