Question: Common stock value Variable growth Lawrence Industries' most recent annual dividend was $1.61 per share (D0=$1.61), and the firm's required return is 10%. Find the

Common stock

valueVariable

growth Lawrence Industries' most recent annual dividend was

$1.61

per share

(D0=$1.61),

and the firm's required return is

10%.

Find the market value of Lawrence's shares when dividends are expected to grow at

20%

annually for 3 years, followed by a

3%

constant annual growth rate in years 4 to infinity.

The market value of Lawrence's shares is?

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