Solved: What is the price of the security, Financial Accounting

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What is the price of the security

Response to the following problem:

A prestigious investment bank designed a new security that pays a quarterly dividend of $5 in perpetuity. The first dividend occurs one quarter from today. What is the price of the security if the stated annual interest rate is 7 percent, compounded quarterly?

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Financial Accounting: What is the price of the security

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Financial Accounting: What is the price of the security

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