Synovec Co. is growing quickly. Dividends are expected to grow at a rate of 20 percent for the next 3 years, with the growth rate falling off to a constant 6 percent thereafter.

If the required return is 13 percent and the company just paid a $2.80 dividend. what is the current share price?

• $54.42

• $60.26

• $61.47

• $59.06

• $56.91