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Company has just issued a preferred stock that pays an annual $4 dividend. The first dividend will be received one year from today. If the

Company has just issued a preferred stock that pays an annual $4 dividend. The first dividend will be received one year from today. If the required rate of return on this stock is 5%, then what is the price of the stock?
$3.81
$4.20
$80.00
None

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