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Computech Corporation is expandino rapidly and currently needs to retain all of its earnings: hence, it does not pay dividends, However, investors expect Cormputech to

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Computech Corporation is expandino rapidly and currently needs to retain all of its earnings: hence, it does not pay dividends, However, investors expect Cormputech to begin paylng dividends, beginning with a dividend of 51.25 coming 3 years from today, The dividend should grow rapidly-at a rate af 32%5 per year-during Years 4 and 5, but after Year 5 , growth should be a constant 5% per vear. If the required return on Computech is 128 , what is the value of the stock today? Do not round intermediate calculations. Round your answer to the nearest cent

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