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E-Eyes.com Bank just issued some new preferred stock. The issue will pay a $14 annual dividend in perpetuity, beginning 8 years from now. Required :

E-Eyes.com Bank just issued some new preferred stock. The issue will pay a $14 annual dividend in perpetuity, beginning 8 years from now.

Required :If the market requires a 9 percent return on this investment, how much does a share of preferred stock cost today?

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