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A preferred stock pays a dividend of $3.00 in perpetuity. If the return required by shareholders is 8%, then the price per share for this
A preferred stock pays a dividend of $3.00 in perpetuity. If the return required by shareholders is 8%, then the price per share for this preferred stock is ________.
A)$27.78
B)$33.78
C)$40.50
D)$37.50
E)none of the above
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