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A share of $ 1 0 0 par value preferred stock pays a 5 % dividend. Your company requires a 1 2 % return on

A share of $100 par value preferred stock pays a 5% dividend. Your company requires a 12% return on investment. Given this information what price per share would you be willing to invest into this particular stock? (Round to the nearest cent. With no dollar sign. i.e.20.10)

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