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Having trouble with this question. Any help and insight would be greatly appreciated. Thx! A share of preferred stock pays an annual dividend of $6

Having trouble with this question. Any help and insight would be greatly appreciated. Thx!

A share of preferred stock pays an annual dividend of $6 per share. If investors require a 12 percent rate of return, what should be the price of this preferred stock?

$55.00

$50.00

$60.00

$45.00

$40.00

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