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A firm plans to issue a $50 par value perpetual preferred stock with an annual dividend of $6.50 per share. If the required return is

A firm plans to issue a $50 par value perpetual preferred stock with an annual dividend of $6.50 per share. If the required return is 6.5%, at what price should this preferred stock sell for? a. $45.00 b. $50.00 c. $90.00 d. $100.00

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