Question: Mobray Corp is experiencing rapid growth. Dividends are expected to grow at a rate of 25% for the next three years, then 5% per year

Mobray Corp is experiencing rapid growth. Dividends are expected to grow at a rate of 25% for the next three years, then 5% per year forever. If the required return is 10%, and the company just paid a dividend of $2. What is the stock price in year 3? (Keep 2 decimals.)

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