Problem 7-13 Nonconstant Growth Stock Valuation Simpkins Corporation does not pay any dividends because it is expanding rapidly and needs to retain all of its earnings. However, investors expect moins to begin paying dividends, with the first dividend of $1.25 coming years from today. The dividend should grow ridy.at ante 75% per year during your 4 and 5. After years, the company should grow at a constant rate of os per year. If the required return on the stock What value of the stock today (assume the market is in equilibrium with the required retum equal to the pecadour) Hound your answer to the nearest content of you Intermediate computations 4.28