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9-6. PREFERRED STOCK VALUATION: Farley Inc., has perpetual preferred stock outstanding that sells for a $30 a share and pays a dividend of $2.75 at

9-6. PREFERRED STOCK VALUATION: Farley Inc., has perpetual preferred stock outstanding that sells for a $30 a share and pays a dividend of $2.75 at the end of each year. What is the required rate of return?

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