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A preferred stock pays an annual dividend of $2.87 per share indefinitely. Investors require a 11.45 percent rate of return on this preferred stock. What

A preferred stock pays an annual dividend of $2.87 per share indefinitely. Investors require a 11.45 percent rate of return on this preferred stock. What should the price of one share of this stock be today?

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$10.30

$2.58

$13.14

$3.99

$25.07

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