P7-15: common stock value: variable growth lawrence industries’ most recent annual dividend was $1.80 per share (d0=$1.80), and the firm’s required return is 11%. find the market value of lawrence’s shares when: a. dividends are expected to grow at 8% annually for 3 years, followed by a 5% constant annual growth rate in year 4 to infinity. b. dividends are expected to grow at 8% annually for 3 years, followed by a 0% constant annual growth rate in year 4 to infinity. c. dividends are expected to grow at 8% annually for 3 years, followed by a 10% constant annual growth rate in year 4 to infinity.