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 begin paying dividends, beginning with a dividend of $1.50 coming 3 years from today. The dividend should grow rapidly at a rate of 22% per year during Years 4 and 5; but after Year 5, growth should be a constant 10% 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 13%, what is the value of the stock today? Round your answer to the nearest cent. Do not round your intermediate calculations. $ Nonconstant growth Year 3 Dividend, D Superormal growth rate os Normal growth rate, Required return to 51.50 22.00% 10.00% 13.00% 22.00% 4 22.00% 5 1000% 0 6 1 0 0 $1.50 Dividends PS Cash flows to common stockholders 0 0 PV of cash flows to common stockholders Stock Price, P. Alternatively using Excel NPV function Stock Price, P. Formulas 1000% 0 1 0 2 0 3 $1.5000 22.00% 4 ANA 22.00% 5 A WNA ANIA #N/A 6 ANA Dividends PS Cash flows to common stockholders 0 0 SNA NA NA #NIA N/A SNA #NIA PV of cash flows to common stockholders Stock Price, P. #N/A Alternatively, using Excel NPV function Stock Price, Po N/A