Question: Please help me with this question and show steps. Thanks. NoGrowth Corporation currently pays a dividend of $0.47 per quarter, and it will continue to

Please help me with this question and show steps. Thanks.

NoGrowth Corporation currently pays a dividend of $0.47 per quarter, and it will continue to pay this dividend forever. What is the price per share of NoGrowth stock if the firm's equity cost of capital is 13.1%? (...) The stock price is $ (Round to the nearest cent.)

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