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ATT offers perpetual preferred stock that pays a constant annual dividend of $1.75 per share. If the required rate of return on similar investments is
ATT offers perpetual preferred stock that pays a constant annual dividend of $1.75 per share. If the required rate of return on similar investments is 9%, what is the most you should be willing to pay for a share of this stock?
a.
$19.44
b.
$18.24
c.
$21.19
d.
$19.18
e.
$19.99
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