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ABC Inc has an outstanding preferred share. The preferred share just paid a dividend of $2.59. Dividends are paid quarterly. The required rate of return

ABC Inc has an outstanding preferred share. The preferred share just paid a dividend of $2.59. Dividends are paid quarterly. The required rate of return on the preferred shares is 9.13% compounded annually. What is the price of the preferred shares? Your answer should be accurate to two decimal places.

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