Lawrence Industries' most recent annual dividend was $2.08 per share (D0= $2.08), and the firm's required return is 10%. 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 $__

Common stock valueVariable growth Lawrence Industries' most recent annual dividend was $2.08 per share Do = $2.08), and the firm's required return is 10%. 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.)