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Melanie Corp. is growing quickly. Dividends are expected to grow at a rate of 25 percent for the next three years, with the growth rate

Melanie Corp. is growing quickly. Dividends are expected to grow at a rate of 25 percent for the next three years, with the growth rate falling off to a constant 8.8 percent thereafter. If the required return is 13 percent and the company just paid a dividend of $4.64, what is the current share price? ( Do not round intermediate calculations, round your answer to two decimal points, i.e. 32.16)

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