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Each quarter, a company pays a dividend on its perpetual preference share. Today, the share is selling at $12.30. If the required rate of return

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Each quarter, a company pays a dividend on its perpetual preference share. Today, the share is selling at $12.30. If the required rate of return for such shares is 8.7 percent p.a. compounding quarterly, what is the quarterly dividend paid by this company? (to the nearest cent; don't include $ sign)

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