Visiontech is expanding rapidly and currently needs to retain all of its earnings; hence, it does not pay dividends. However, investors expect Visiontech to begin paying dividends, beginning with a dividend of $0.50 coming 3 years from today. The dividend should grow rapidly-at a rate of 35% per year-during years 4 and 5, but after year 5, growth should be a constant 7% per year. If the required return on Visiontech is 13%, what is the value of the stock today