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Common stock value - variable growth Lawrence Industries' most recent annual dividend was $ 1 . 3 5 per share ( Do = $ 1

Common stock value-variable growth Lawrence Industries' most recent annual dividend was $1.35 per share (Do = $1.35), and the firm's required return is 14%. Find the market value of Lawrence's shares when dividends are expected to grow at 10% annually for 3 years, followed by a 6% 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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