Question: Problem 8-16 Supernormal Growth (LO1) Duffs Co. is growing quickly. Dividends are expected to grow at a 24% rate for the next three years, with

Problem 8-16 Supernormal Growth (LO1) Duffs Co. is growing quickly. Dividends

Problem 8-16 Supernormal Growth (LO1) Duffs Co. is growing quickly. Dividends are expected to grow at a 24% rate for the next three years, with the growth rate falling off to a constant 6% thereafter. If the required return is 11% and the company just paid a $1.90 dividend, what is the current share price? (Do not round intermediate calculations. Round the final answer to 2 decimal places. Omit $ sign in your response.) Current share price $ 81.41

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