6. MJ Corporation is expanding rapidly and currently needs to retain all of its earnings; hence, it does not pay dividends. However, investors expect MJ to begin paying dividends, beginning with $.75 coming 3years from today. The dividend should grow rapidly- at a rate of 35% per year- during years 4and 5, but after year 5, growth should be a constant 7%per year. If the required return on MJ 13%, what is the value of the stock today?