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Synovec Co. is growing quickly. Dividends are expected to grow at a rate of 3.92 percent for the next three years, with the growth rate
Synovec Co. is growing quickly. Dividends are expected to grow at a rate of 3.92 percent for the next three years, with the growth rate falling off to a constant 5.85 percent thereafter. If the required return is 9.3 percent and the company just paid a dividend of $9.57, what is the current share price? Omit the $ dollar sign and commas. Do not round intermediate calculations and round your final answer to 2 decimal places. (e.g., 32.16).
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