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A firm has an issue of preferred stock outstanding that has a stated annual dividend of $4. The required return on the preferred stock has

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A firm has an issue of preferred stock outstanding that has a stated annual dividend of $4. The required return on the preferred stock has been estimated to be 16 percent. The value of the preferred stock is Select one: a. $16. b. $50. c. $25. d. $64. Clear my choice

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