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E-Eyes.com just issued some new preferred stock. The issue will pay an annual dividend of $18 in perpetuity, beginning 7 years from now. If the

E-Eyes.com just issued some new preferred stock. The issue will pay an annual dividend of $18 in perpetuity, beginning 7 years from now. If the market requires a return of 3.2 percent on this investment, how much does a share of preferred stock cost today? (If possible solve using formulas)

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