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A preferred stock from Duquesne Light Company (DQUPRA) pays $3.20 in annual dividends. If the required return on the preferred stock is 6.10 percent, whats

A preferred stock from Duquesne Light Company (DQUPRA) pays $3.20 in annual dividends.

If the required return on the preferred stock is 6.10 percent, whats the value of the stock?

Value of stock $

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