The equity analyst is about to find the value of the share of company XYZ, which pays quarterly dividend payments. The analyst uses the following assumptions to value this stock: 1. The next dividend payment, incurred after 3 months, is $0.5. 2. As this company has a relatively competitive position within the industry, the quarterly growth rate of the dividend for the first 10 years is 4%. (In other words, the next quarter dividend payment is greater than 4% than the preceding one.) 3. Subsequently, the company will be in mature stage of the industry. So the analyst assumes that the quarterly growth rate of the dividend thereafter becomes 2%. 4. The effective annual interest rate is 13%. Q: Calculate the value (or the fair price) of the share of company XYZ