Synovec Co. is growing quickly. Dividends are expected to grow at a rate of 22 percent for the next 3 years, with the growth rate falling off to a constant 6 percent thereafter.

If the required return is 9 percent and the company just paid a $2.80 dividend. what is the current share price?

Multiple Choice

• $146.30

• $152.27

• $149.29

• $145.36

• $137.83