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synovec Company is growing quickly. Dividends are expecte o grow at a rate of 30 percent for the next three years, with th growth rate

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synovec Company is growing quickly. Dividends are expecte o grow at a rate of 30 percent for the next three years, with th growth rate falling off to a constant 5 percent thereafter. If th equired return is 11 percent, and the company just paid dividend of $2.80, what is the current share price? (Do n ound intermediate calculations and round your answer to decimal places, e.q.. 32.16.)

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