The market value of lawrence shares

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Common stock value long dash —Variable growth. Lawrence Industries' most recent annual dividend was 1.06 per share (D0 equals = $1.06), and the firm's required return is 14%. Find the market value of Lawrence's shares when dividends are expected to grow at 8% 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.)

Reference no: EM131862373

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