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Summer Grubbin' Restaurants Co. is expanding rapidly and currently needs to retain all of its earnings. However, investors expect the firm will begin paying dividends,

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Summer Grubbin' Restaurants Co. is expanding rapidly and currently needs to retain all of its earnings. However, investors expect the firm will begin paying dividends, beginning with a dividend of $1.20 at the end of three years. The dividend will grow rapidly, at a rate of 35% per year, during Years 4 and 5, but after Year 5 . growth will be a constant 7% per year. If the required return on Stock N. is 13%, what is the value of the stock today (to the nearest cent)

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