3. Lawrence Industries most recent annual dividend was $1.80 per share and the firms required...
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3. Lawrence Industries most recent annual dividend was $1.80 per share and the firms required return is 11%. Find the market value of Lawrences shares when:
a) Dividends are expected to grow at 8% annually for 3 years, followed by a 5% constant annual growth rate in years 4 to infinity.
b) Dividends are expected to grow at 8% annually for 3 years, followed by a 0% constant annual growth rate in years 4 to infinity
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