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#20 Caspian Sea is considering raising $41.00 million by issuing preferred stock. They believe the market will use a discount rate of 11.65% to value

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#20 Caspian Sea is considering raising $41.00 million by issuing preferred stock. They believe the market will use a discount rate of 11.65% to value the preferred stock which will pay a dividend of $4.18. How many shares will they need to issue? Submit Answer format: Currency: Round to: 0 decimal places

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