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7 - 4 . The Ape Copy Company's preferred stock pays an annual dividend equal to $ 16.50. IF investors demand a return Equal to

7 - 4 . The Ape Copy Company's preferred stock pays an annual dividend equal to $ 16.50. IF investors demand a return Equal to 1 1 percent to purchase APE's preferred stock , what is it's market value ? ANSWER : $ 150

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