Lawrence Industries' most recent annual dividend was $1.45 per share ?(D0equals=$ 1.45), and the firm's required return is 15%.
Find the market value of Lawrence's shares when dividends are expected to grow at 10?% 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.