Synovec Company is growing quickly. Dividends are expected to grow at a rate of 20 percent for the next three years, with the growth rate falling off to a constant 5 percent thereafter. If the required return is 11 percent and the company just paid a dividend of $3.10, what is the current share price? (Do not round intermediate calculations and round your answer to 2 decimal places).

Answer rating: 100% (QA)

First calculate the dividends for each of the next three years considering ... View the full answer