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A preferred stock from Duquesne Light Company (DQUPRA) pays $2.70 in annual dividends. If the required return on the preferred stock is 5.60 percent, whats
A preferred stock from Duquesne Light Company (DQUPRA) pays $2.70 in annual dividends.
If the required return on the preferred stock is 5.60 percent, whats the value of the stock? (Round your answer to 2 decimal places.)
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