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If the company ABC has issued an issue of preferred shares with an annual dividend of $4 per share, and investors require an 8% return

If the company ABC has issued an issue of preferred shares with an annual dividend of $4 per share, and investors require an 8% return per year, then calculate the intrinsic value of the company's stock. What should be the market price of preferred stock on the stock market for it to be attractive to buy relative to intrinsic value?

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