Question: Chapter 08 Saved 7 Synovec Co. is growing quickly. Dividends are expected to grow at a rate of 22 percent for the next three years,

Chapter 08 Saved 7 Synovec Co. is growing quickly. Dividends are expected to grow at a rate of 22 percent for the next three years, with the growth rate falling off to a constant 4 percent thereafter. If the required return is 12 percent, and the company just paid a dividend of $1.60, what is the current share price? (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.) 12.5 points 01:58:24 Current share price

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