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A preferred share of Xubuntu Corporation will pay a dividend of $9 in the upcoming year, and every year thereafter, i.e., dividends are not expected

A preferred share of Xubuntu Corporation will pay a dividend of $9 in the upcoming year, and every year thereafter, i.e., dividends are not expected to grow. You require a return of 11% on this stock. Using the dividend discount model to calculate the intrinsic value, how much is this stock worth?

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