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A preferred stock pays a semi-annual dividend of $7. If you want to earn 8 percent annually on this investment, what is the maximum amount

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A preferred stock pays a semi-annual dividend of $7. If you want to earn 8 percent annually on this investment, what is the maximum amount you should pay to purchase one share of this stock today? $87.50 $63.00 $77.78 $175.00

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