Question: Common stock value-Variable growth Lawrence Industries' most recent annual dividend was $1.06 per share (D = $1.06). and the firm's required retum is 14%. Find

Common stock value-Variable growth Lawrence Industries' most recent annual dividend was $1.06 per share (D = $1.06). and the firm's required retum is 14%. Find the market value of Lawrence's shares when dividends are expected to grow at 8% annually for 3 years, followed by a 7% 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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