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9.16 The preferred stock of Axim Corp. is currently selling at $51.15. If the required rate of return is 11.0 percent, what is the dividend

9.16 The preferred stock of Axim Corp. is currently selling at $51.15. If the required rate of return is 11.0 percent, what is the dividend paid by this stock? (Round answer to 2 decimal places, e.g. 15.25.) Dividend paid

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