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Rubio, Incorporated, will pay a quarterly dividend per share of $ 1 . 3 5 at the end of each of the next 1 2

Rubio, Incorporated, will pay a quarterly dividend per share of $1.35 at the end of each of the next 12 quarters. Thereafter, the dividend will grow at a quarterly rate of 1.1 percent forever. The appropriate rate of return on the stock is 13 percent, compounded quarterly. What is the current stock price?

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