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8. A preferred stock pays an annual dividend of $5. What is one share of this stock worth today if the rate of return is

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8. A preferred stock pays an annual dividend of $5. What is one share of this stock worth today if the rate of return is 10 percent? 9. You just paid $480,000 for an annuity that will pay you and your heirs $15,000 a year forever. What rate of return (internal rate of return) are you earning on this policy

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