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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

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 pay dividends beginning with a dividend of $1.50 coming 3 years from today. The dividends should go rapidly- at a rale of 41% per year- during Years 4 and 5, but after year 5, growth should be at a constant 4% per year. If the required return on Computech is 15%, what is the value of the stock today? Do not round intermediate calculations. Round to the nearest cent.
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