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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

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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 $1.00 coming 3 years from today. The dividend should grow rapidly at a rate of 20% per year during Years 4 and 5: but after years, 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. Open spreadsheet If the required return on Computech is 18%, 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 3 Normal growth 6 Requeretur, 5.00% 18 00 20.00% 20.00% 50% 0 2 0 $100 Didends 10 P 11 Cash fost condholders 0 13 PV of cash flows to common stoholders 14 Stock Prio. P 16 Alternatively using Excel NPV union 17 Stock Prion, P 13 20004 20.00% 19 20 Fom 21 22 23 Dwidends 24 PS 25 Cash flows to common stockholders $10000 NA NA 0 NA TINA NA SINA PV of cash fows to common stockholders 20 Stock Price. Po SNA SNA NA NA SNA Sheet + Citation Mode Wb

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