Question: Common stock value long dash Variable growth Lawrence Industries' most recent annual dividend was $1.83 per share (D0=$ 1.83) and the firm's required return is

Common stock value long dash Variable growth

Lawrence Industries' most recent annual dividend was

$1.83 per share (D0=$ 1.83) and the firm's required return is 11%.

Find the market value of Lawrence's shares when dividends are expected to grow at 25% annually for 3 years, followed by a 6% constant annual growth rate in years 4 to infinity.

The market value of Lawrence's shares is $_?(Round to the nearest cent)

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