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Ajax Company has issued perpetual preferred stock with a dividend of $5.5. If the required rate of return is 7.75 %. What is the stock's

Ajax Company has issued perpetual preferred stock with a dividend of $5.5. If the required rate of return is 7.75 %. What is the stock's current market price? A. $82.14 B. $53.27 C. $70.97 D. $12.50

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