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Computech Corporation is expanding rapidly and currently needs to retain all of its earnings, hence, it does not pay dividends. However, investors expect Computach to

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Computech Corporation is expanding rapidly and currently needs to retain all of its earnings, hence, it does not pay dividends. However, investors expect Computach to begin paying dividends, beginning with a dividend of $1.25.coming 3 years from today. The dividend should grow rapidly-at a rate of 35% per year-turing Years 4 and 5, but after Year 5, growth should be a constant 5% per year. If the required return on Computech is 16, what is the value of the stook today? Do not round intermediate calculations. Round your answer to the nearest cent

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