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A preferred share of GL Corporation will pay an annual dividend of $2.2 every year; that is, dividends are not expected to grow, What is

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A preferred share of GL Corporation will pay an annual dividend of $2.2 every year; that is, dividends are not expected to grow, What is the intrinsic value of the stock if its market capitalization rate is 6.0% ? Round your answer to two decimal places, and do not enter the dollar sign

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