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 $0.75 coming 3 years from today. The dividend should grow rapidly - at a rate of 439% per year - during Years 4 and 5; but after Year 5, growth should be a constant 6 % 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 15% , what is the value of the stock today? Round your answer to the nearest cent. Do not round your intermediate calculations. B C D Nonconstant growth G Year 3 Dividend, D Supemormal growth rate, g, Normal growth rate, g Required retum, r, S0 75 43 00 % 6.00 % 15.00 % 43.00 % 4300% 6.00 % 0 13 S0 75 4 Dividends Ps Cash flows to common stockholders 0 0 0 0 3 PV of cash flows to common stockholders 4Stock Price, P 6 Altematively, using Excel NPV function Stock Price, P, 7 Formulas 4300 % 1 43 00% 6.00% 2 3 Dividends 5 #NA $07500 #N/A 0 #NA Sheet1 B D 7 Stock Price, P G Formulas 21 #2 4300% 43 00 % 6 00 % 0 2 3 3 Dividends 24 P 0 0 $0.7500 NA #NA ANA #NIA #NA 25 Cash flows to common stockholders 0 0 # N/A #N/A 26 27 PV of cash flows to common stockholders INA #NA #NA #NA #NA 28 Stock Price, Pe #N/A 29 80 Alternatively, using Excel NPV function Stock Price, Pe 31 #N/A 32 33 34 36 7