Microtech Corporation is expanding rapidly and currently needs to retain all of its earnings; hence, it does not pay dividends. However, investors expect Microtech to begin paying dividends, beginning with a dividend of $3.20 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 7.1% per year. If the required return on Microtech is 11.20%, what is the value of the stock today? $151.22 $94.03 $145.65 $116.27