S Synovec Company is growing quickly. Dividends are expected to grow at a rate of 22 percent for the next three years, with the growth rate falling off to a constant 4 percent thereafter. If the required return is 12 percent, and the company just paid a dividend of $1.60, what is the current share price? (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.) Current share price W

Synovec Company is growing quickly. Dividends are expected to grow at a rate of 22 percent for the next three years, with the growth rate falling off to a constant 4 percent thereafter. If the required return is 12 percent, and the company just paid a dividend of $1.60, what is the current share price? (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.)