What is the price of the security

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A prestigious investment bank designed a new security that pays a quarterly dividend of $5.40, in perpetuity. The first dividend occurs one quarter from today.

Problem 1: What is the price of the security if the APR is 10.1 percent compounded quarterly? (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.)

Reference no: EM132984138

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