Question: Chapter 9 Chapter 9 Question 8(of 10) 8. value 1.00 points Philips Co. is growing quickly. Dividends are expected to grow at a rate of

Chapter 9

Chapter 9 Question 8(of 10) 8. value 1.00 points Philips Co. is growing quickly. Dividends are expected to grow at a rate of 25 percent for the next three years, with the growth rate falling off to a constant 6 percent thereafter. If the required return is 11 percent and the company just paid a dividend of $1.15, what is the current share price? (Do not round intermediate calculations and round your answer to 2 decimal places, o.g.,32.16.) Current share price Hints References eBook & Resources Hint#1 esc FI F2 F3 F4 FS F6

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