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Pasqually Mineral Water, Inc., will pay a quarterly dividend per share of $1.30 at the end of each of the next 12 quarters. Thereafter, the
Pasqually Mineral Water, Inc., will pay a quarterly dividend per share of $1.30 at the end of each of the next 12 quarters. Thereafter, the dividend will grow at a quarterly rate of 1 percent forever. The appropriate rate of return on the stock is 12 percent, compounded quarterly. What is the current price of the stock?
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