Dividends-what is the current share price

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Reference no: EM131312552

Marcel Co. is growing quickly. Dividends are expected to grow at a 24 percent rate for the next 3 years, with the growth rate falling off to a constant 8 percent thereafter.

Required:

If the required return is 12 percent and the company just paid a $2.10 dividend. what is the current share price? (Do not round your intermediate calculations.)

Reference no: EM131312552

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