Problem

Differential Growth Hughes Co. is growing quickly. Dividends are expected to grow at a 25...

Differential Growth Hughes Co. is growing quickly. Dividends are expected to grow at a 25 percent rate for the next three years, with the growth rate falling off to a constant 7 percent thereafter. If the required return is 12 percent and the company just paid a $2.40 dividend, what is the current share price?

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