A company is expected to have earnings of $1.21 per share in one year, $1.96 per share in two years, $2.28 per share in three years, and $2.88 in four years. The dividend payout ratio is also expected to remain at 40% over the next four years. The lagging P/E ratio is expected to increase up to 25 in three years. If the required rate of return is 10%, what is a fair value for this stock today?