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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, thvestors 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, thvestors expect Computech to begin paving difidends, begining with a dividend of $1.25 coming 2 years from today. The dwidend thould orow rapidiv - at a rate of 204 per vear - during Years 4 and 5, but after Year 5, growth should be a constant 10% per yeak. If the required return on Computhch is 15%, what is the value of the stock todar? Do nok round intermediate calculations. Round vour answer to the nearent cent

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