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Achi Corp. has preferred stock with an annual dividend of $3.22. If the required return on Achi's preferred stock is 7.6%, what is its price?
Achi Corp. has preferred stock with an annual dividend of $3.22. 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.)
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