Problem $9-15$ Differential Growth

Synovec Company is growing quickly. Dividends are expected to grow at a rate of $20$

percent for the next three years, with the growth rate falling off to a constant $5$ percent

thereafter. If the required return is $10$ percent and the company just paid a dividend

of $$1\mathrm{.}00,$ what is the current share price? $($Do not round intermediate calculations and

round your answer to $2$ decimal places, e$.$g$.,32\mathrm{.}16.)$