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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 Computech 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 Computech to begin paying dividends, beginning with a dividend of $1.00 coming 3 vears from today. The dividend should arow rapidly-at a rate of 38% per Year-during Years 4 and 5, but after Year 5 , orowth should be a constant 10% per year, If the required return on Computech is 16%, what is the value of the stock today Do not round intermediate calculations. Round your answer to the nearest cent

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