Question: Galloway Corp is growing quickly. Dividends are expected to increase by 20 percent annually for the next three years, with the growth rate falling off

Galloway Corp is growing quickly. Dividends are expected to increase by 20 percent annually for the next three years, with the growth rate falling off to a constant 4 percent thereafter. The required return is 15 percent and the company just paid its annual dividend of $5 per share. What is the current share price?

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