Common stock valueVariable growth Lawrence Industries' most recent annual dividend was $2.42 per share (Do = $2.42), and the firm's required return is 16%. Find the market value of Lawrence's shares when dividends are expected to grow at 30% annually for 3 years, followed by a 3% constant annual growth rate in years 4 to infinity. The market value of Lawrence's shares is $ . (Round to the nearest cent.)