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1 Synovec Corporation is growing quickly. Dividends are expected to grow at a rate of 32 percent for the next three years. with the growth
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Synovec Corporation is growing quickly. Dividends are expected to grow at a rate of 32 percent for the next three years. with the growth rate falling off to a constant 6.2 percent, thereafter. If the required return is 14 percent and the company just paid a dividend of $2.85, what is the current share price?
Note: Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.
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