Lawrence Industries' most recent annual divident was $2.11 per share (D0 = $2.11), and the firm's required return in 14%. Find the market value of Lawrence's shares when dividends are expected to grow at 10% annually for 3 years, followed by a 4% constant annual growth rate in 4 years to infinity.
Please show work if possible
a. The market value of Lawrence shares is __ (Round to the nearest cent.)