Common Stock Value - Variable Growth
Lawrence? Industries' most recent annual dividend was ?$1.74 per share ?(D0 equals = $1.74?), and the? firm's required return is 12?%.
Find the market value of? Lawrence's shares when dividends are expected to grow at 25?% annually for 3? years, followed by a 3?% constant annual growth rate in years 4 to infinity.
The market value of Lawrence's shares is $_______