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Computech Corporation is expanding rapidly and currently needs to retaiti all of its earnings; hence, it does not pay dividends. Howevec, investors expect Computech to

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Computech Corporation is expanding rapidly and currently needs to retaiti all of its earnings; hence, it does not pay dividends. Howevec, investors expect Computech to begin paying dividends, beginning with a dividend of $1.50 coming 3 years from today. The dividend should grow rapidly-at a. rate of 2145 per year-during Years 4 and 5 , but after Year 5 , orowth should be a constant 5% per year if the required return on Computech is 18%, what is the yalue of the stock today? Do not round intermediate calculations, Round your answer to the nearest cent

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