Yang Corp. is growing quickly. Dividends are expected to grow at a rate of 22 percent for the next three years, with the growth rate falling off to a constant 5 percent thereafter.
Required:If the required return is 15 percent and the company just paid a $2.50 dividend, what is the current share price? (Hint: Calculate the first four dividends.)(Do not round intermediate calculations. Round your answer to 2 decimal places (e.g., 32.16).)

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