Common stock value-Variable growth Lawrence Industries' most recent annual dividend was $2.35 per share (Do-$2.35), and the firm's required return is 11%. Find the market value of Lawrence's shares when dividends are expected to grow at 15% 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.)