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Marcel Co. is growing quickly. Dividends are expected to grow at a 19 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 19 percent rate for the next 3 years, with the growth rate falling off to a constant 6 percent thereafter. Required: If the required return is 11 percent and the company just paid a $1.80 dividend. what is the current share price? (Do not round your intermediate calculations.) Grohl Co. issued 19-year bonds a year ago at a coupon rate of 11 percent. The bonds make semiannual payments. If the YTM on these bonds is 12 percent, what is the current bond price

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