Marcel Co. is growing quickly. Dividends are expected to grow at a 19 percent rate for the next 3 years, with the growth rate falling off to a constant 5 percent thereafter. Required: If the required return is 9 percent and the company just paid a $3.00 dividend. what is the current share price? (Do not round your intermediate calculations.)
a.$110.96
b.$104.77
c.$113.23
d$115.49
e. $109.32