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Blake Corp. is growing quickly. Dividends are expected to grow at an annual rate of 30 percent for the next three years, with the growth

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Blake Corp. is growing quickly. Dividends are expected to grow at an annual rate of 30 percent for the next three years, with the growth rate falling off to a constant annual rate of 5.5 percent thereafter. If the required return is 12.5 percent and the company just paid a dividend of $2.85, what is the current share price? (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.) Answer is complete but not entirely correct. Current share price 54.45 EA

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