[Solved] 3. Ellcon Inc. preferred stock pays a con

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3. Ellcon Inc. preferred stock pays a constant annual dividend of $2.36 per share. If investors' required rate of return on this stock is 10.07%,

Ellcon Inc. preferred stock pays a constant annual dividend of $2.36 per share. If investors' required rate of return on this stock is 10.07%, what is the intrinsic value per share? Round your answer to two decimal places (Ex. $0.00)

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