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An issue of preferred stock is paying an annual dividend of $4 50 The growth rate for the firm s common stock is 6% What

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An issue of preferred stock is paying an annual dividend of $4 50 The growth rate for the firm s common stock is 6% What is the preferred stock price if the required rate of return is 7%? (Round your answer to 2 decimal pieces) $64.29 $61.79 $66.79 $69.29

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