Microtech Corporation is expanding rapidly and currently needs to retain all of its earnings. Hence it does not pay dividends. However, investors expect Microtech to begin paying dividends, beginning with a dividend of $1.00 coming 3 years from today. The dividend should grow rapidly, at a rate of 50% per year, during years 4,5, and 6. After that growth rate should be a constant 8% per year.

The company's stock has a market beta of 1.46. Assuming a risk-free rate of 3.5% and an expected return on the stock market of 13%, what is its stock price today?