Question: 6. Marcel Co. is growing quickly. Dividends are expected to grow at a 19 percent rate for the next 3 years, with the growth rate

6.

Marcel Co. is growing quickly. Dividends are expected to grow at a 19 percent rate for the next 3 years, with the growth rate falling off to a constant 8 percent thereafter.

Required:

If the required return is 12 percent and the company just paid a $3.60 dividend. what is the current share price? (Do not round your intermediate calculations.)

$124.48

$128.79

$116.30

$131.37

$126.22

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