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

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Consider a $40 par value share of preferted stock with a 4% dividend tate (paid quarterly, first dividend one quarter from today) and a 15 -year life. if investors have a required rate of retum of 14% (EAR, or APY). What should be today's price of one share? Choose the closest answer? a. $15.93 b. $10.33 c. $5.60 d. $15.06 e. $9.98 f. 35.08

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