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Burton Corp. is growing quickly. Dividends are expected to grow at a rate of 31 percent for the next three years, with the growth rate

Burton Corp. is growing quickly. Dividends are expected to grow at a rate of 31 percent for the next three years, with the growth rate falling off to a constant 6.6 percent thereafter. If the required return is 12 percent and the company just paid a dividend of $2.65, what is the current share price? (Hint: Calculate the first four dividends.) $91.67 $92.67 $93.67 $94.67

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