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Common stock valueVariable growth Lawrence Industries' most recent annual dividend was $2.12 per share (D0=$2.12), and the firm's required return is 12%. Find the market
Common stock
valueVariable
growth Lawrence Industries' most recent annual dividend was
$2.12
per share
(D0=$2.12),
and the firm's required return is
12%.
Find the market value of Lawrence's shares when dividends are expected to grow at
15%
annually for 3 years, followed by a
5%
constant annual growth rate in years 4 to infinity.
Question content area bottom
Part 1
The market value of Lawrence's shares is
$enter your response here.
(Round to the nearest cent.)
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