Question

Marcel Co is growing quickly. Dividends are expected to grow at a 30 percent rate for the next three years, with the growth rate falling off to a constant 6 percent thereafter. If the required return is 13 percent and the company just paid a $1.80 dividend, the current share price is $ . (Do not include the dollar sign ($). Round your answer to 2 decimal places.

Answer 1

125.74