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Points: 0 of 1 Common stock value-Variable growth Lawrence Industries' most recent annual dividend was $2.47 per share (Do = $2.47), and the firm's

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Points: 0 of 1 Common stock value-Variable growth Lawrence Industries' most recent annual dividend was $2.47 per share (Do = $2.47), and the firm's required return is 10%. Find the market value of Lawrence's shares when dividends are expected to grow at 20% annually for 3 years, followed by a 6% constant annual growth rate in years 4 to infinity. The market value of Lawrence's shares is $ (Round to the nearest cent.)

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