Computech Corporation is expanding rapidly and currently needs to retain all of its earnings; hence, it does not pay dividends. However, investors expect Computech to begin paying dividends, beginning with a dividend of $$1\mathrm{.}25$ coming $3$ years from today. The dividend should grow rapidly $-$ at a rate of $45\%$ per year $-$ during Years $4$ and $5$; but after Year $5,$ growth should be a constant $9\%$ per year. The data has been collected in the Microsoft Excel Online file below. Open the spreadsheet and perform the required analysis to answer the question below.

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Open spreadsheet

If the required return on Computech is $16\%,$ what is the value of the stock today? Round your answer to the nearest cent. Do not round your intermediate calculations.

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