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ABC Co., preferred stock has a par value of $156.35 with a preferred dividend rate of 9.41%. If the required rate of return on preferred

ABC Co., preferred stock has a par value of $156.35 with a preferred dividend rate of 9.41%. If the required rate of return on preferred stock is 9.38%, what is today's price of preferred stock?

Enter your answer rounded off to two decimal points. Do not enter $ or comma in the answer box.

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