Synovec Co. is growing quickly. Dividends are expected to grow at a rate of 16 percent for the next 3 years, with the growth rate falling off to a constant 4 percent thereafter.

If the required return is 8 percent and the company just paid a $3.40 dividend. what is the current share price?

Multiple Choice

A) $118.90

B) $117.11

C) $113.21

D) $121.32

• $123.75