P7-15 (similar to) Question Help ▼ Common stock value-Variable growth Lawrence Industries' most recent annual dividend was $1.58 per share (D, = $1.58), and the firm's required return is 11%. Find the...

Extracted text: P7-15 (similar to) Question Help ▼ Common stock value-Variable growth Lawrence Industries' most recent annual dividend was $1.58 per share (D, = $1.58), and the firm's required return is 11%. Find the market value of Lawrence's shares when dividends are expected to grow at 30% annually for 3 years, followed by a 7% constant annual growth rate in years 4 to infinity. The market value of Lawrence's shares is $. (Round to the nearest cent.) Теxt lia Libral I Calculat r Resource Enter your answer in the answer box and then click Check Answer. nic Study es All parts showing Clear All Check Answer munication Tools LEinance Brief 8e This course (lntradurtion to E 11:58 PM O Type here to search (? 3/24/2021 ho insert prt sc 4+ @ %23 24 3. 4. 6. 8. backspace W Y U A G H. K pause C alt ctr alt USE YOUR SMARTPHONE F Σ