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Deep Elum Mining Co. has a new issue of preferred stock . The stock will pay $ 25 dividend per year , but the first

Deep Elum Mining Co. has a new issue of preferred stock . The stock will pay $ 25 dividend per year , but the first dividend will not be paid until 18 years from today . If you require a return of 6.5 percent on this stock , how much should you pay today for a share of this stock ?

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