Agarwal Technologies was founded 10 years ago. It has been profitable for the last 5 years, but it has needed all of its earnings to support growth and thus has never paid a dividend. Management has indicated that it plans to pay a $0.25 dividend 3 years from today, then to increase it at a rate of 50% in year 4, and 25% in year 5, and then to increase it at a constant rate of 8.00% thereafter. Assuming a required return of 11.00%, what is your estimate of the stock's current value?