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A prestigious investment bank designed a new security that pays a quarterly dividend of $4.10 in perpetuity. The first dividend occurs three quarters from today.

A prestigious investment bank designed a new security that pays a quarterly dividend of $4.10 in perpetuity. The first dividend occurs three quarters from today. What is the price today of the security if the APR (i.e., annual percentage rate) is 4.9 percent compounded quarterly? Show all your steps

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