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Carby Hardware has an outstanding issue of perpetual preferred stock with an annual dividend of $8.70 per share. If the required return on this

Carby Hardware has an outstanding issue of perpetual preferred stock with an annual dividend of $8.70 per share. If the required return on this preferred stock is 6.5%, at what price should the preferred stock sell? Select the correct answer. a. $133.85 b. $133.36 c. $134.83 d. $134.34 e. $132.87

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