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Cubero Enterprises preferred stock pays a dividend of $3.95 per year. If you require a(n) 11% return on this investment, what is the most you

Cubero Enterprises preferred stock pays a dividend of $3.95 per year. If you require a(n) 11% return on this investment, what is the most you would be willing to pay for a share of Cubero's preferred stock? (Round your answer to 2 decimal places.)

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