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How much would you pay for Motorola's preferred stock offering a $0.54 dividend quarterly when the required rate on preferred stock for Motorola is 12% D$18.00 $22.22 O $4.50 $6.48 Dramatis Inc, declared today a quarterly dividend of $0.52. Investors expect a rate of return on the stock of 12.5% as long as it maintains its projected annual growth rate of 7.5%. What would an investor pay for the stock today? $38.60 $42.38 $36.00 $32.60