Question: Future Corp. is growing quickly. Dividends are expected to grow at a 20 percent rate for the next 3 years, with the growth rate falling

Future Corp. is growing quickly. Dividends are expected to grow at a 20 percent rate for the next 3 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 $3.05 dividend, what is the current share price? (Hint: Calculate the first four dividends.)

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