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How much would you pay for a Summerhill preferred stock that pays an annual dividend of $16? (Note that you would require a return of

How much would you pay for a Summerhill preferred stock that pays an annual dividend of $16? (Note that you would require a return of 9% from such a stock )

a. $ 190.22

b. $ 56.25

c. $ 177.78

d. $ 3642.55

e. $ 186.67

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