Question: Marcel Co. is growing quickly. Dividends are expected to grow at a 27 percent rate for the next 3 years, with the growth rate reducing

 Marcel Co. is growing quickly. Dividends are expected to grow at

Marcel Co. is growing quickly. Dividends are expected to grow at a 27 percent rate for the next 3 years, with the growth rate reducing to only a constant 8 percent thereafter Required: If the required return is 15 percent and the company Just paid a $1.50 dividend, what is the current share price? Note: since the dividend at time 0 of $1.50 has just been paid, do not include it in the price at time 0. (Do not round your intermediate calculations.)

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