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A company issued its 11% preference share at $6 par. Return expectation in the market is currently 13% from this preference share. What would be

A company issued its 11% preference share at $6 par. Return expectation in the market is currently 13% from this preference share. What would be the intrinsic value of this preference share?

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$7.09

$5.88

$5.08

$6.00

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