Question: Rabbit Town Corp. is experiencing rapid growth. Dividends are expected to grow at 30% per year during the next three years, 20% over the following

Rabbit Town Corp. is experiencing rapid growth. Dividends are expected to grow at 30% per year during the next three years, 20% over the following year, and then 6% per year indefinitely. The required return on this stock is 10%, and the stock currently sells for $76 per share. What is the projected dividend for the coming year? (Do not round intermediate calculations. Round the final answer to 2 decimal places. Omit $ sign in your response.) Projected dividend

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