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Carby Hardware has an outstanding issue of perpetual preferred stock with an annual dividend of $7.90 per share. If the required return on this preferred

Carby Hardware has an outstanding issue of perpetual preferred stock with an annual dividend of $7.90 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. $121.54 b. $120.25 c. $120.68 d. $121.11 e. $119.82

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