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A non-convertible preferred stock with a par value of $10.00, maturity in five years, a nominal required rate of return of 9.00 percent, and semiannual

A non-convertible preferred stock with a par value of $10.00, maturity in five years, a nominal required rate of return of 9.00 percent, and semiannual dividends of $1.50. What is the value of the preferred stock?

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