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 48% per year - during Years 4 and 5; but after Year 5, growth should be a constant 7% 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. C14 123 Nonconstant growth fx A B C D E F G H Year 3 Dividend, D3 $1.25 4 Supernormal growth rate, gs 48.00% LO 5 Normal growth rate, gn 69 Required return, rs 7.00% 13.00% 8 Dividends 9 10 P5 11 12 Cash flows to common stockholders 13 PV of cash flows to common stockholders 14 Stock Price, Po 15 4561 16 Alternatively, using Excel NPV function: 17 Stock Price, Po 48.00% 48.00% 7.00% 0 1 2 0 0 3 $1.25 4 5 6 0 0 18 19 20 12222222222223 Formulas 48.00% 48.00% 7.00% 0 1 2 3 4 5 Dividends 0 0 $1.2500 #N/A #N/A 6 #N/A 24 P5 #N/A 25 Cash flows to common stockholders 0 0 #N/A #N/A #N/A 26 27 PV of cash flows to common stockholders 28 Stock Price, Po #N/A #N/A #N/A #N/A #N/A #N/A 29 30 Alternatively, using Excel NPV function: Stock Price, Po #N/A 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. +A $