Question: Common stock value Variable growth Lawrence Industries' most recent annual dividend was $1.92 per shareand the firm's required return is 10%. Find the market value

Common stock valueVariable growth

Lawrence Industries' most recent annual dividend was $1.92 per shareand the firm's required return is 10%. Find the market value of Lawrence's shares when dividends are expected to grow at 25% annually for 3 years, followed by a 5% constant annual growth rate in years 4 to infinity.

Question

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

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