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A $1,000 face value preferred share with an annual coupon of $60 is available on the market. What is the value of this preferred share

A $1,000 face value preferred share with an annual coupon of $60 is available on the market. What is the value of this preferred share if the relevant discount rate for valuation purposes is 7%? Select one: a. $1,062.22 b. $1,000.00 c. $857.14 d. $796.73

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