NoGrowth Corporation currently pays a dividend of $0.56 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 10.4% ? The stock price is $ (Round to the nearest cent.) We can use the following equation to calculate the price per share: P0​=rE​−gDiv1​​ where rE​ is the appropriate quarterly discount rate. To determine the quarterly discount rate, use the following formula: Equivalent n-period discount rate =(1+rE​)1/n−1