Growth rate in dividends-what is the current share price

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Apocalyptica Corporation is expected to pay the following dividends over the next four years: $ 3, $ 10, $ 15, and $ 3.08. Afterwards, the company pledges to maintain a constant 5 percent growth rate in dividends, forever. If the required return on the stock is 11 percent, what is the current share price?

Reference no: EM13870664

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