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A company sells preferred stock shares. It offers a $6.2 dividend at the end of each year indefinitely. If the appropriate discount rate is 5.7%,

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A company sells "preferred stock" shares. It offers a $6.2 dividend at the end of each year indefinitely. If the appropriate discount rate is 5.7%, how much should each share of such stock sell for? Round your final answer to TWO decimal places. Do NOT use " \( \$ " \)quot; in your

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