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ThisIsNotHappening has no competition in business and is growing quickly. This company's annual dividends are expected to grow at 21 percent per year for the

ThisIsNotHappening has no competition in business and is growing quickly. This company's annual dividends are expected to grow at 21 percent per year for the next 3 years. The growth rate in dividends will then drop to a constant 6 percent per year, in perpetuity, due to competitors joining the market and lowering ThisIsNotHappening company's market share.

The required return is 9 percent. You also know that the company just paid a $2.70 dividend on each of its shares. Calculate the current share price.

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