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A company has perpetual preferred stock outstanding that pays a dividend of $10 at the end of each year and the required rate of return
A company has perpetual preferred stock outstanding that pays a dividend of $10 at the end of each year and the required rate of return is 14%. What is the price of the preferred stock? *
A. 71.42%
B. $71.42
C. 17.24%
D. $17.24
E. None of the above
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