Joseph is considering purchasing the common stock of Shark Industries, a rapidly growing boat manufacturer. He finds that the firm's most recent (2009) annual dividend payment was $1.50 per share. Joseph estimates that these dividends will increase at a 10% annual rate, g1, over the next 3 years of the 3 years (2010, 2011, and 2012), because of the introduction of a hot new boat. At the end of the 3 years (at the end of 2012), he expected the firms mature product line to result in a slowing of the dividend growth rate to 5% per year, g2, for the seeable future. Josephs required return, r, is 15%. Estimate the value of Sharks common stock at the end of initial period 2009?