The market valioe of Lawience's shares is 1 (Roond to he coedrest cend) Common stock value - Variable growth Lawrence Industries' most recent annual dividend was $2.48 per share (D0=$2.48), and the firm's required return is 10%. Find the market value of Lawrence's shares when dividends are expected to grow at 8% annually for 3 years, followed by a 3% constant annual growth rate in years 4 to infinity. The market value of Lawrence's shares is S (Round to the nearest cent.)