P8-18 Supernormal Growth [LO1] Synovec Co. is growing quickly. Dividends are expected to grow at a rate of 16 percent for the next 3 years, with the growth rate falling off to a constant 3 percent thereafter. If the required return is 8 percent and the company just paid a $3.30 dividend. what is the current share price? Multiple Choice

A. $89.43

B. $91.58

C.$95.67

D. $97.59

E $93.76