Common stock value-Variable growth Lawrence Industries' most recent annual dividend was $1.94 per share (D0=$1.94), and the firm's required return is 16%. Find the market value of Lawrence's shares when dividends are expected to grow at 20% 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.)