Growth rate falling off to constant three percent thereafter

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Reference no: EM131507299

Marcel Co. is growing quickly. Dividends are expected to grow at a 20 percent rate for the next 3 years, with the growth rate falling off to a constant 3 percent thereafter.

If the required return is 8 percent and the company Just paid a $3.20 dividend. What Is the current share price? (Do not round your intermediate calculations.)

Reference no: EM131507299

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