Determining the current share price

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Hughes Co. is growing quickly. Dividends are expected to grow at a 24.1 % rate for the next three years, with the growth rate falling off to a constant 5 % thereafter. If the required return is 10.9 % and the company just paid a $1.66 dividend, what is the current share price?(Round answer to 2 decimal places, round intermediate calculations to 5 decimal places)

Reference no: EM131213950

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