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Flipping three face cards before the joker

Question

A 14-card deck consists of one card of each rank (ace through king) plus a joker, shuffled. You turn cards over one by one. You win $100 if the king, queen and jack have all been revealed, but the game ends with nothing as soon as the joker appears. What is the most you should pay to play?

Short answer

$25. Only the relative order of the king, queen, jack and joker matters. You win exactly when the joker is last of those four, which has probability 14\tfrac14, so the expected payout is $25.

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