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1. Calculate the value of a preferred stock with a fixed annual dividend of $2.45, assuming a discount rate of 9.5%. Solve the problem two
1. Calculate the value of a preferred stock with a fixed annual dividend of $2.45, assuming a discount rate of 9.5%. Solve the problem two different ways: first by using the algebraic formula for a constant dividend preferred stock, then by using the built-in Excel function PV.
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