Nonconstant Growth and Quarterly Dividends Pasqually Mineral Water, Inc., will pay a quarterly dividend per share of
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Nonconstant Growth and Quarterly Dividends Pasqually Mineral Water, Inc., will pay a quarterly dividend per share of $1 at the end of each of the next 12 quarters. Thereafter the dividend will grow at a quarterly rate of 0.5 percent forever. The appropriate rate of return on the stock is 10 percent, compounded quarterly. What is the current stock price? LO.1
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