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Frogmouth Ltd. issued a fixed-rate perpetual preference share 3 years ago at $25.00 per share with a $1.30 dividend. If the company were to issue

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Frogmouth Ltd. issued a fixed-rate perpetual preference share 3 years ago at $25.00 per share with a $1.30 dividend. If the company were to issue preference shares today, the yield would be 4.6 per cent Calculate the share's current value. (1 Mark) Answer: Express answer as a decimal to 2 decimal places

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