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Consider a $40 par value share of preferred stock with a 4% dividend rate (paid quarterly, first dividend one quarter from today) and a 15-year

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Consider a $40 par value share of preferred stock with a 4% dividend rate (paid quarterly, first dividend one quarter from today) and a 15-year life. If investors have a required rate of return of 14% (EAR, or APY), what should be today's price of one share? Choose the closest answer. O a. $15.93 O b. $10.33 $5.60 O d. $15.06 Oe. $9.98 $5.08 Of

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