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12. If a preferred stock from Pfizer Inc. (PFE) pays $3.00 in annual dividends and the required return is 7 percent, what is the value

12. If a preferred stock from Pfizer Inc. (PFE) pays $3.00 in annual dividends and the required return is 7 percent, what is the value of the stock?

Group of answer choices

A. $21.00

B. $0.21

C. $42.86

D. $0.43

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