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Hawkeye Inc. has an outstanding issue of preferred stock with an annual dividend of $2.07 per share. If the required rate of return on this

Hawkeye Inc. has an outstanding issue of preferred stock with an annual dividend of $2.07 per share. If the required rate of return on this preferred stock (rp) is 12%, at what price should the stock sell? Enter your answer with 2 decimals (dollars and cents).

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