Question: Common Stock Value - Variable Growth Lawrence Industries' most recent annual dividend was $1.74 per share (D0 equals = $1.74), and the firm's required return

Common Stock Value - Variable Growth

Lawrence Industries' most recent annual dividend was $1.74 per share (D0 equals = $1.74), and the firm's required return is 12%.

Find the market value of Lawrence's shares when dividends are expected to grow at 25% annually for 3 years, followed by a 33% constant annual growth rate in years 4 to infinity.

The market value of Lawrence's shares is $_______

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