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A preferred stock pays a $12 annual dividend, paid out as $3.00 per quarter, in perpetuity. The value of the preferred stock is basically the
A preferred stock pays a $12 annual dividend, paid out as $3.00 per quarter, in perpetuity. The value of the preferred stock is basically the PV of the payments. If you discount these payments at 8.000% compounded quarterly, what is the PV? Answer in $, to two decimal places i.e. $x,xxx.xx
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