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 $$2\mathrm{.}00$ coming $3$ years from today. The dividend should grow rapidly$-$at a rate of $30\%$ per year$-$during Years $4$ and $5$; but after Year $5,$ growth should be a constant $7\%$ per year. If the required return on Computech is $16\%,$ what is the value of the stock today? Round your answer to the nearest cent. Do not round your intermediate calculations.