Common stock valuelong dash$$Variable growth $$Lawrence$$ Industries' most recent annual dividend was $$$$1\mathrm{.}96$ per share $($D Subscript $0$equals$=$$ $1\mathrm{.}96),$ and the$$ firm's required return is $15\%.$ Find the market value of$$ 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.

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Part $1$

The market value of$$ Lawrence's shares is $$$enter your response here.