TargetSmart Inc. is growing quickly. Dividends are expected to increase by 9 percent annually for the next three years, with the growth rate falling off to a constant 3.5 percent thereafter. The required return is 15 percent and the company just paid its annual dividend of $4.64 per share. What is the current share price? 15.00% $ 4.64 Required Return Last Dividend (DO Dividend Growth from 0 - 3 years Terminal Growth 9% 3.5% Dividend Year 1 (D1) Dividend Year 2 (D2) Dividend Year 3 (D3) Terminal Value Price per Share now