Question: Marcel Co. is growing quickly. Dividends are expected to grow at a rate of 0.09 for the next 4 years, with the growth rate falling

Marcel Co. is growing quickly. Dividends are expected to grow at a rate of 0.09 for the next 4 years, with the growth rate falling off to a constant 0.03 thereafter. If the required return is 0.07 and the company just paid a $1.07 dividend, what is the current share price?

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