2. 19.

Supernormal Growth [LO 8.1] Walcha Gold Company is experiencing rapid growth. Dividends are expected to grow at 25 per cent per year during the next three years, 15 per cent over the following year and then 6 per cent per year indefinitely. The required return on the shares is 10 per cent, and the shares currently sell for $79 per share. What is the projected dividend for the coming year?