Sophia estimates the rate of growth of dividend for XYC will be 15% for the next 5 years. The market capitalization rate for XYC is 11%. After this initial period of 5 years the dividend is expected to grow at a rate of 4% forever after. You forecast that the dividend next year (this includes 1 year of growth at a rate of 15%) will be $0.52. Calculate Sophia's intrinsic value for XYC.