Question: Marcel Co. is growing quickly. Dividends are expected to grow at a 22 percent rate for the next 3 years, with the growth rate falling

Marcel Co. is growing quickly. Dividends are expected to grow at a 22 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 10 percent and the company just paid a $1.70 dividend. what is the current share price? (Do not round your intermediate calculations.) $46.50 $47.43 $45.57 $44.18 $42.84
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