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ABC Co. preferred stock pays dividends of $15 per year. If investors require a 12% return on the stock, its value is A. $ 13.40.

ABC Co. preferred stock pays dividends of $15 per year. If investors require a 12% return on the stock, its value is

A. $ 13.40.

B. $ 80.00.

C. $ 84.75.

D. $125.00.

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