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Computech Corporation is expanding rapidly and currently needs to retain all of its earnings; hence, it does not poy 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 poy 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 44% per year - during Years 4 and 5 , but after Year 5 , growth should be a constant 6% per year. If the required return on Computech is 12%, what is the value of the stock today? Do not round intermediate calculations, Round your answer to the nearest cent. s

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