5impkins Corporation does not pay any dividends because it is expanding rapidly and needs to retain all of its earnings. However, investars expect Simpkins to begin payiny dividends, with the first dividend of $1.50 coming 3 years from today, The dividend should grow rapidly- at a rate of 75% per year i during Years 4 and 5 . After Year 5 , the company should grow at a constant rate of 9% per yeac. If the required retum on the stock is 12%, what is the value of the stock today (assume the markec is in equilibrium wuth the tequired return equal to the expocted return)? Round your answer to the nearest cent, Do not round your intermediate computations