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Graphical Designs is offering 1 0 - 1 0 preferred stock. The stock will pay an annual dividend of $ 1 0 with the first

Graphical Designs is offering

10 - 10

preferred stock. The stock will pay an annual dividend of $

10

with the first dividend payment occurring

10

years from today. The required return on this stock is

4.60

percent. What is the price of the stock today?

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