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10. A share of perpetual preferred stock pays an annual dividend of $6 per share. If investors require a 12 percent rate of return, what

10. A share of perpetual preferred stock pays an annual dividend of $6 per share. If investors require a 12 percent rate of return, what should be the price of this preferred stock? a. $57.25 b. $50.00 c. $62.38 d. $46.75 e. $41.64

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