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P7-15 (similar to) Question Help Common stock valueVariable growth Lawrence Industries' most recent annual dividend...

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P7-15 (similar to) Question Help Common stock valueVariable growth Lawrence Industries' most recent annual dividend was $2.04 per share (D. = $2.04), and the firm's required return is 12%. 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.)

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