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 $3.00 dividend. what is the current share price?

$60.79
$59.57
$54.22
$62.00
$57.02

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