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Buyonline Ltd is expanding rapidly. Its dividend growth rate for the coming year is projected at 25 percent. This rate will decline by 5 percentage

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Buyonline Ltd is expanding rapidly. Its dividend growth rate for the coming year is projected at 25 percent. This rate will decline by 5 percentage points per year until it reaches the industry average of 5 percent. Once it reaches 5 percent, it will stay there indefinitely. The most recent dividend was $0.85 per share, and the market requires a return of 16 percent on investments such as this one. What is the price per share for Buyonline

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