Question: Common stock valueVariable growth Lawrence Industries' most recent annual dividend was $1. 18 per share (Do = $1. 18), and the firm's required return is

Common stock valueVariable growth Lawrence Industries' most recent annual dividend was

Common stock valueVariable growth Lawrence Industries' most recent annual dividend was $1. 18 per share (Do = $1. 18), 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 4% 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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