Growth rate in dividends-what is the current share price

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Bayou Okra Farms just paid a dividend of $3.35 on its stock. The growth rate in dividends is expected to be a constant 4 percent per year indefinitely. Investors require a return of 16 percent for the first three years, a return of 14 percent for the next three years, and a return of 12 percent thereafter. What is the current share price? Please show work.

Reference no: EM13881931

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