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Calculation of Current price per share.

Rizzi Co. is growing quickly. Dividends are expected to grow at a 25 percent rate for the next 3 years, while growth rate falling off to a constant 8 percent thereafter. If the required return is 11 percent and the company just paid a $3.50 dividend, the current share price is $_____. (Round your answer to 2 decimal places, e.g. 32.16)

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