Marcel Co. is growing quickly. Dividends are expected to grow at a 19 percent rate for the next 3 years, with the growth rate falling off to a constant 4 percent thereafter.
Required:
If the required return is 8 percent and the company just paid a $1.10 dividend. what is the current share price? (Do not round your intermediate calculations.)
rev: 09_18_2012
$39.44
$43.12
$42.28
$41.43
$40.81