Synovec Co. is growing quickly. Dividends are expected to grow at a rate of 21 percent for the next 3 years, with the growth rate falling off to a constant 5 percent thereafter.

If the required return is 8 percent and the company just paid a $1.80 dividend. what is the current share price?

• $97.31

• $95.41

• $92.87

• $93.50