Common stock value - Variable growth Lawrence industries' most recent annual dividend was $1.04 per share (D0=$1.04), and the firm's required return is 12%. Find the market value of Lawrence's shares when dividends are expected to grow at 30% 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.)