Excel Online Structured Activity: Nonconstant growth 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 paying dividends, beginning with a dividend of $1.25 coming 3 years from today. The dividend should grow rapidly - at a rate of 43% per year - during Years 4 and 5; but after Year 5, growth should be a constant 5% per year. The data has been collected in the Microsoft Excel Online file below. Open the spreadsheet and perform the required analysis to answer the question below. X Open spreadsheet If the required return on Computech is 12%, what is the value of the stock today? Round your answer to the nearest cent. Do not round your intermediate calculations. $ Check My Work Reset Problem Nonconstant growth Year 3 Dividend, D Supernormal growth rate, g Normal growth rate, gn Required return, r Dividends P Cash flows to common stockholders PV of cash flows to common stockholders Stock Price, Po Alternatively, using Excel NPV function: Stock Price, P Formulas Dividends P Cash flows to common stockholders PV of cash flows to common stockholders Stock Price, Po Alternatively, using Excel NPV function: Stock Price, Po $1.25 43.00% 5.00% 12.00% 0 0 #N/A #N/A 1 0 0 1 0 0 2 0 0 2 0 0 #N/A 3 $1.25 3 $1.2500 #N/A #N/A 43.00% 43.00% 4 4 #N/A #N/A #N/A 43.00% 43.00% 5 5 #N/A #N/A #N/A #N/A 5.00% 5.00% 6 6 #N/A