Common stock value - Variable growth Lawrence Industries' most recent annual dividend was $1.81 per share ( D 0 = $1.81 ) , and the firm's required return is 14% . Find the market value of Lawrence's shares when dividends are expected to grow at 10% 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.).