Dolphins corporation is expanding rapidly and currently needs to retain all its earnings; hence, it does not pay dividends. However, investors expect Dolphins to begin paying dividends, beginning with a dividend of $1.00 exactly 3 years from today. The dividend should grow rapidly, at a rate of 40 percent per year during years 4 and 5; but after Year 5, growth should be a constant 5% per year. If the required return on Dolphins is 10%, what is the value of the stock today? Please show steps and work.