Required information Problem 7.40 (LO 7.1) (Algo) [The following information applies to the questions displayed below] Five years ago, Kate purchased a dividend-paying stock for $24,000. For all five years, the stock paid an annual dividend of 3 percent before tax and Kate's marginal tax rate was 24 percent. Every year Kate reinvested her after-tax dividends in the same stock. For the first two years of her investment, the dividends qualified for the 15 percent capital gains rate; however, for the last three years the 15 percent dividend rate was repealed and dividends were taxed at ordinary rates. Note: Do not round intermediate calculations. Round your final answers to the nearest whole dollor amount. Problem 7-40 Port-a (Algo) o. What is the current value (at the beginning of year 6 ) of Kate's investment assuming the stock has not appreciated in value