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 $1.75 coming 3 years from today. the dividend should grow rapidly - at a rate of 27% per year - during years 4 and 5, but after year 5, growth should be a constant 8% per year. if the required return on computech is 14%, what is the value of the stock today?
