Common stock value-Variable growth Lawrence Industries' most recent annual dividend was $1.72 per share (D = $1.72), and the firm's required return is 11%. Find the market value of Lawrence's shares when dividends are expected to grow at 25% 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 $ . (Round to the nearest cent.)