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A stock pays a dividend of $60 at the end of the first quarter, with each subsequent quarterly dividend being 1% greater than the preceding

A stock pays a dividend of $60 at the end of the first quarter, with each subsequent quarterly dividend being 1% greater than the preceding one. Find the price of this stock using a yield rate of 6% compounded quarterly. Possible Answers A 1,200 B 4,500 C 6,100 D 11,500 E 12,000

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