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A preferred stock pays an annual dividend of $2.60. What is one share of this stock worth today if the rate of return is 11.75%

A preferred stock pays an annual dividend of $2.60. What is one share of this stock worth today if the rate of return is 11.75%

A. $18.48

B. $22.13

C. 25.48

D. 28.80

E. 30.55

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