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Argaiv Towers has an outstanding issue of preferred stock that pays an $8 dividend annually. If the required return on Argaiv preferred stock is 6

Argaiv Towers has an outstanding issue of preferred stock that pays an $8 dividend annually. If the required return on Argaiv preferred stock is 6 six percent, and if Argaiv pays its next dividend in one year, what is the market price of the preferred stock today?

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