Marcel Co. is growing quickly. Dividends are expected to grow at a 24 percent ra
ID: 2705523 • Letter: M
Question
Marcel Co. is growing quickly. Dividends are expected to grow at a 24 percent rate for the next 3 years, with the growth rate falling off to a constant 7 percent thereafter.
If the required return is 14 percent and the company just paid a $1.50 dividend. what is the current share price? (Do not round your intermediate calculations.)
Required:If the required return is 14 percent and the company just paid a $1.50 dividend. what is the current share price? (Do not round your intermediate calculations.)
Explanation / Answer
$34.84