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Burton Corp. is growing quickly. Dividends are expected to grow at a rate of 25 percent for the next three years, with the growth rate falling off to...
Burton Corp. is growing quickly. Dividends are
expected to grow at a rate of 25 percent for the next three years, with the
growth rate falling off to a constant 6 percent thereafter. If the required
return is 11.5 percent and the company just paid a dividend of $2.50, what
is the current share price?