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IBM issues preferred stock on the open market. The stock carries a par value per share of IBM has a retention ratio of and a

IBM issues preferred stock on the open market. The stock carries a par value per share of IBM has a retention ratio of and a dividend payout ratio of The required rate of return on this preferred stock is The fair value today for this stock should be IBM issues preferred stock on the open market. The stock carries a par value per share of IBM has a retention ratio of and a dividend payout ratio of The required rate of return on this preferred stock is The fair value today for this stock should be

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