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Return to Upton Co. is growing quickly. Dividends are expected to grow at 20 percent for the next three years, with the growth rate falling
Return to Upton Co. is growing quickly. Dividends are expected to grow at 20 percent for the next three years, with the growth rate falling off to a constant 4 percent thereafter. If the required return is 10 percent and the company just paid a dividend of $3.70, what is the current share price? (Do not round intermediate calculations. Round your answer to 2 decimal places, e.g., 32.16.) Current share price 46.2
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