Dividends are expected to grow at a 23 percent rate for the, Financial Management

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Dividends are expected to grow at a 23 percent rate for the

Marcel Co. is growing quickly. Dividends are expected to grow at a 23 percent rate for the next 3 years, with the growth rate falling off to a constant 7 percent thereafter.

Required:

If the required return is 11 percent and the company just paid a $3.30 dividend. what is the current share price? (Do not round your intermediate calculations.)

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Financial Management: Dividends are expected to grow at a 23 percent rate for the

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