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Computech Corporation is expanding rapidy and currently needs to retain all of its eamings; hence, it does not pay dividends, Hewever, investors expect Computech to
Computech Corporation is expanding rapidy and currently needs to retain all of its eamings; hence, it does not pay dividends, Hewever, investors expect Computech to begin paying dividends, beginning with a dividend of 32.00 coming 3 years from todoy, The dividend should graw rapidly - at a rate of 38 be per year - during Years 4 and 5 , but after Year 5 , grawth should be a constant 5% 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 antwer to the nearest cent. 5
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