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An issue of preferred stock is paying an annual dividend of $5. The growth rate for the firm's common stock is 12%. What is the

An issue of preferred stock is paying an annual dividend of $5. The growth rate for the firm's common stock is 12%. What is the preferred stock price if the required rate of return is 10%?

a. $22.73

b. $50.00

c. $41.67

d. $5.00

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