Question $6$: $4+6=10$ marks The Cheerful Co$.$ has just paid a cash dividend of $\backslash (\backslash$$ $2\backslash )$ per share. Investors require a $16$ percent return from investments such as this. a$)$ If the dividend is expected to grow at a steady $8$ percent per year, what is the current value of the stock? b$)$ What would the stock sell for today if the dividend was expected to grow at $20$ percent per year for the next three years and then settle down to $8$ percent per year indefinitely?