Nonconstant growth and quarterly dividends

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Nonconstant Growth and Quarterly Dividends

Pasqually Mineral Water, Inc., will pay a quarterly dividend per share of $1.70 at the end of each of the next 12 quarters. Thereafter, the dividend will grow at a quarterly rate of 1.8 percent, forever. The appropriate rate of return on the stock is 14 percent, compounded quarterly.

What is the current stock price?

Reference no: EM131300383

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