Simpkins Corporation does not pay any dividends because it is expanding raplily and needs to retain all of its earnings. However, investors expect Simpkins to begin paying dividends, with the first dividend of $1.00 coming 3 years from todoy. The dividend should grow rapidly - at a tate of Bow per year = during Years 4 and 5 . After Yeat 5, the company should grow at a constank rate of 990 per year. If the required return on the stock 1s 13%, what is the value of the stock today? (Assume the market is in equilbrimim with the required return equal to the expected return.) Do not round intermediate calculations. Round your answer to the nearest cent