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Graphical Designs is offering 20-20 preferred stock. The stock will pay an annual dividend of $20 with the first dividend payment occurring 20 years from

Graphical Designs is offering 20-20 preferred stock. The stock will pay an annual dividend of $20 with the first dividend payment occurring 20 years from today. The required return on this stock is 4.90 percent. What is the price of the stock today

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