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Big Manufacturer, Inc.s perpetual preferred stock has an annual dividend of $7.75 per share and is selling in the market for $85.00 per share. If

Big Manufacturer, Inc.s perpetual preferred stock has an annual dividend of $7.75 per share and is selling in the market for $85.00 per share. If your required return on this preferred stock is 9.0%, what is the intrinsic value of this preferred stock?

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