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Marcel Co. is growing quickly. Dividends are expected to grow at a 17 percent rate for the next 3 years, with the growth rate falling

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Marcel Co. is growing quickly. Dividends are expected to grow at a 17 percent rate for the next 3 years, with the growth rate falling off to a constant 3 percent thereafter. Required: If the required return is 8 percent and the company just paid a $2.60 dividend. what is the current share price? (Do not round your intermediate calculations.)

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