If the required return on Computech is 15%, what is the value of the stock today? Round to the nearest cent. Do not round your intermediate calculations.

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 $1.50 coming 3 years from today. The dividend should grow rapidly at a rate of 32% 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