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7 7. A firm issues preferred stock with a dividend of $3.53. If the appropriate discount rate is 5-20% what is the value of the

7. A firm issues preferred stock with a dividend of $3.53. If the appropriate discount rate is 5-20% what is the value of the preferred stock? a. $75.37 b. $67.88 c. $60.29 d. $88.82

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