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8-3. (Preferred stock valuation) Queens Park Plc. issued preference shares with par value $100 and annual preferred dividend of 10 percent. What is the price
8-3. (Preferred stock valuation) Queens Park Plc. issued preference shares with par value $100 and annual preferred dividend of 10 percent. What is the price of Queens Park Plc' preference shares if the appropriate discount rate for a stock of this risk class is 16 percent
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