LawrenceIndustries' most recent annual dividend was $2.57per share (D0=$2.57), and thefirm's required return is 12%. Find the
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Question:
LawrenceIndustries' most recent annual dividend was $2.57per share (D0=$2.57), and thefirm's required return is 12%. Find the market value ofLawrence's shares when dividends are expected to grow at 15% annually for 3years, followed by a 3% constant annual growth rate in years 4 to infinity.
The market value ofLawrence's shares is ?
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