Biarritz Corp. is growing quickly. Dividends are expected to grow at a rate of 30 percent for the next three years, with the growth rate falling off to a constant 7.5 percent thereafter. If the required return is 13 percent and the company just paid a dividend of $2.55, what is the current share price? (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.)

Biarritz Corp. is growing quickly. Dividends are expected to grow at a rate of 30 percent for the next three years, with the growth rate falling off to a constant 7.5 percent thereafter. If the required return is 13 percent and the company just paid a dividend of $2.55, what is the current share price? (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.)

Name: Biarritz Corp. is growing quickly. Dividends are expected to grow at
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Description: Biarritz Corp. is growing quickly. Dividends are expected to grow at a rate of 30 percentfor the next three years, with the growth rate falling off to a constant 7.5 percentthereafter.If the required return is 13 percent and the company just paid a

Corporate Fin Focused Approach

5th Edition

ISBN:9781285660516

Author:EHRHARDT

Publisher:EHRHARDT

Chapter7: Valuation Of Stocks And Corporations

Section: Chapter Questions

Problem 21P

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