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 14 percent and the company just paid a $3.40 dividend. what is the current share price? (Do not round your intermediate calculations.) rev: 09_18_2012 $78.98 $77.40 $74.60 $70.77 $80.56

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