Nonconstant Growth and Quarterly Dividends Mitchell Mineral Water, Inc., will pay a

quarterly dividend per share of $$\mathrm{.}95$ at the end of each of the next $12$ quarters. There$-$

after, the dividend will grow at a quarterly rate of $1$ percent, forever. The appropriate

rate of return on the stock is $11$ percent, compounded quarterly. What is the current

stock price?