NONCONSTANT GROWTH Computech Corporation is expanding rapidly and currently needs to retain all of its earnings;...

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NONCONSTANT GROWTH Computech Corporation is expanding rapidlyand currently needs to retain all of its earnings; hence, it doesnot pay dividends. However, investors expect Computech to beginpaying dividends, beginning with a dividend of $0.75 coming 3 yearsfrom today. The dividend should grow rapidly-at a rate of 28% peryear-during Years 4 and 5; but after Year 5, growth should be aconstant 5% per year. If the required return on Computech is 17%,what is the value of the stock today? Round your answer to thenearest cent. Do not round your intermediate calculations. $

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NONCONSTANT GROWTH Computech Corporation is expanding rapidlyand currently needs to retain all of its earnings; hence, it doesnot pay dividends. However, investors expect Computech to beginpaying dividends, beginning with a dividend of $0.75 coming 3 yearsfrom today. The dividend should grow rapidly-at a rate of 28% peryear-during Years 4 and 5; but after Year 5, growth should be aconstant 5% per year. If the required return on Computech is 17%,what is the value of the stock today? Round your answer to thenearest cent. Do not round your intermediate calculations. $