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 $1.75 coming 3 years from today. The dividend should grow rapidly - at a rate of 48% per year - during Years 4 and 5; but after Year 5, growth should be a constant 7% 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. Open spreadsheet If the required return on Computech is 14%, what is the value of the stock today? Round your answer to the nearest cent. Do not round your intermediate calculations. Chrome File Edit View History Bookmarks Profiles Tab Window Help 66% 0 Fri Mar 25 10:00:19 PM Q Content * Mind Tap - Cengage Learnin x - Excel Online Student Work X Excel Online Student Work X + O about:blank * 0 : areer Life Excel template - Saved O Search (Option +Q) File Home Insert Draw Page Layout Formulas Data Review View Help Editing Comments 17 10 B 1. vor A ale Currency 40 .00 .00 >D Ev 28 v ev ... C14 B D F F H ] K M M N a A Nonconstant growth 2 3 Year 3 Dividend, 4 Subemormal growth rate, 5 Normal growth rate, 6 Required retum, $1.75 4800% 7.00% 14.00% 48.00% 48.00 5 7.00% 6 0 2 } 3 $1.75 0 n 8 8 9 Dividers 10 P. 11 Cash flows to common stockholders 12 13 PV of cash fows to common stockholders 14 Stock Price, P 15 16 Alternatively, using Excel NPV functions 17 Stock Price, PC 18 19 20 Formulas 21 22 73 DMdende 24 P. 25 Gaan ons to common stockholders 26 27 PV of cash flows to common stockholders 28 Stock Price, P 29 30 Alternativey, using Excel NPV funcion: 31 Stock Price P. 32 33 = Sheet1 + 0 1 0 2 0 3 S1.7500 48.00% 4 ENIA 48.00 5 ANA NA UNA 7.00% 8 ANA 0 0 WNIA LINNA NA NA PNIA UNIA DNA NA Continue ANA Calculation Mode: Automatic Workbook Statistics Give Feedback to Microsoft - 70% + 109 25 ty P