Question: Marcel Co. is growing quickly. Dividends are expected to grow at a 24 percent rate for the next 3 years, with the growth rate falling

Marcel Co. is growing quickly. Dividends are expected to grow at a 24 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 15 percent and the company just paid a $3.50 dividend what is the current share price? (Do not round your intermediate calculations.) Multiple Choice $70.92 c $70.92 O $72.34 $66.53 $69.50 $63.26
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