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Common stock valueVariable growth Lawrence Industries' most recent annual dividend was $2.54 per share (Do = $2.54), and the firm's required return is 10%. Find
Common stock valueVariable growth Lawrence Industries' most recent annual dividend was $2.54 per share (Do = $2.54), and the firm's required return is 10%. Find the market value of Lawrence's shares when dividends are expected to grow at 25% 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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