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Marcel Co. is growing quickly. Dividends are expected to grow at a 22 percent rate for the next 3 years, with the growth rate falling off to a constant 6 percent thereafter. Required: If the required return is 14 percent and the company just paid a $3.40 dividend. what is the current share price? (Do not round your intermediate calculations.)

a) 65.58

b) 66.92

c) 68.25

d) 60.13

e) 62.75

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Financial Management, Finance

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