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eBook Problem Walk Through Computech Corporation is expanding rapidly and currently needs to retain all of its earnings: hence, it does not pay dividends. However,

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eBook Problem Walk Through Computech Corporation is expanding rapidly and currently needs to retain all of its earnings: hence, it does not pay dividends. However, investors expect Computach to begin paying dividends, beginning with a dividend of $1.00 coming 3 years from today. The dividend should grow rapidly-at a rate of 25% per year during Years 4 and 5, but after year 5, growth should be a constant 5% per year. If the required return on Computech is 16%, what is the value of the stock today? Do not round Intermediate calculations. Round your answer to the nearest cent

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