Common stock valueVariable growth Lawrence Industries' most recent annual dividend was $2.36 per share (D. = $2.36), and the firm's required return is 12%. Find the market value of Lawrence's shares when dividends are expected to grow at 10% annually for 3 years, followed by a 5% constant annual growth rate in years 4 to infinity. The market value of Lawrence's shares is $1. (Round to the nearest cent.)