Question: Synovec Co. is growing quickly. Dividends are expected to grow at a rate of 20 percent for the next 3 years, with the growth rate

Synovec Co. is growing quickly. Dividends are expected to grow at a rate of 20 percent for the next 3 years, with the growth rate falling off to a constant 6 percent thereafter.

If the required return is 13 percent and the company just paid a $2.80 dividend. what is the current share price?

$54.42
$60.26
$61.47
$59.06
$56.91

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