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Blueberry Canyon Muffins, Inc. pays constant dividends every six months forever. The next dividend of $3 will be paid in 9 months. Each subsequent dividend

Blueberry Canyon Muffins, Inc. pays constant dividends every six months forever. The next dividend of $3 will be paid in 9 months. Each subsequent dividend will be 3% higher than the previous dividend. What is the present value of a share of this stock assuming a stated annual interest rate for company is 15%, compounded six times per year?

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