Chadmark Corporation is expanding rapidly, and it currently needs to retain all of its earnings, hence it does not pay any dividends. However, investors expect Chadmark to being paying dividends, with the first dividends of $0.75 coming 2 years from today. The dividend should grow rapidly, at a rate of 40% per year, during years 3 and 4. After year 4, the company should grow at a constant rate of 10% per year. If the required return on the stock is 16%, what is the value of the stock today?