The cost of debt Gronseth Drywall Systems, Inc., is in discussions with its investment bankers regarding the issuance of new bonds. The investment banker has informed the firm that different maturities will carry different coupon rates and sell at different prices. The firm must choose among several alternatives. In each case, the bonds will have a $1,000 par value and flotation costs will be $40 per bond. The company is taxed at 22%. Use the approximation formula to calculate the after-tax cost of financing with the following alternative. (Click on the icon located on the top-right corner of the data table below in order to copy its contents into a spreadsheet.) Premium or discount $290 Time to maturity 20 years Coupon rate 8% %. (Round to two decimal places.) The after-tax cost of financing using the approximation formula is Common stock value-Variable growth Lawrence Industries' most recent annual dividend was $1.33 per share (D $1.33), and the firm's required return is 14 %. Find the market value of Lawrence's shares when dividends are expected to grow at 15 % annually for 3 years, followed by a 4 % constant annual growth rate in years 4 to infinity The market value of Lawrence's shares is $(Round to the nearest cent)