Price the following financial product. This product will make perpetual quarterly payments. Investors will receive the first payment, $1, one quarter (3 months) from today. Payments within each year are fixed but the payments in the next year will grow at a rate of 3%. For example, in the first year, an investor will receive 4 quarterly payments of $1 each; in the second year, an investor will receive 4 quarterly payments of $1.03 each; in the third year, an investor will receive 4 quarterly payments of $11.032=$1.0609each ... This product faces an effective annual rate of 13%. [Hint: combine 4 identical cash flows within one year into one cash flow.]