Question: Question 1 1 pts Synovec Co. is growing quickly. Dividends are expected to grow at a rate of 3.27 percent for the next three years,
Question 1 1 pts Synovec Co. is growing quickly. Dividends are expected to grow at a rate of 3.27 percent for the next three years, with the growth rate falling off to a constant 6.94 percent thereafter. If the required return is 10.83 percent and the company just paid a dividend of $5.71, what is the current share price? Omit the $ dollar sign and commas. Do not round intermediate calculations and round your final answer to 2 decimal places. (e.g., 32.16)
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