ABC company is a small rapidly growing firm that currently does not pay a dividend. However, it is expected to pay a dividend of $3.

ABC company is a small rapidly growing firm that currently does not pay a dividend. However, it is expected to pay a dividend of $3.00 at the end of the third year and this dividend is expected to grow rapidly at 40 percent for the following two years, after which the dividends will grow at 5% indefinitely. If the required rate of return for the stock 11%, what should be the value of the stock today?