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

Marcel Co. 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 7 percent thereafter.

Required:

If the required return is 13 percent and the company just paid a $3.40 dividend. what is the current share price? (Do not round your intermediate calculations.)

$75.78
$84.13
$82.45
$80.06
$85.81

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