ABC is a fast growing company that paid a dividend this year of $1, which is expected to grow at 20% for two years. Afterwards, the growth rate will be 7%, which implies that the value of the stock at the end of the second year (i.e. P2) will be $51.36. If the required is 10%, what is the value of this stock today (i.e. P0)? [Hint: The price at the end of the second year, P2, is already calculated]