Question: 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

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 4 percent thereafter. Required: If the required return is 8 percent and the company just paid a $1.80 dividend. what is the current share price? (Do not round your intermediate calculations.)

$66.77 $67.80 $64.55 $70.57 $69.18

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