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Achi Corp. has preferred stock with an annual dividend of $2.94. If the required return on Achi's preferred stock is 7.6% , what is its

Achi Corp. has preferred stock with an annual dividend of $2.94. If the required return on Achi's preferred stock is 7.6% , what is its price? (Hint: For a preferred stock, the dividend growth rate is zero.)

Part 1 Achi's stock price will be $__

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