Common stock valueVariable growth Lawrence Industries' most recent annual dividend was $2.32 per share (D. = $2.32), and the firm's required return is 12%. Find the market value of Lawrence's shares when dividends are expected to grow at 15% annually for 3 years, followed by a 7% constant annual growth rate in years 4 to infinity. The market value of Lawrence's shares is $ (Round to the nearest cent.)