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Kendra Corporation's preferred shares are trading for $31 in the market and pay a $6.20 annual dividend. Assume that the market's required yield is 18

Kendra Corporation's preferred shares are trading for $31 in the market and pay a $6.20 annual dividend. Assume that the market's required yield is 18 percent.

a.The value of the stock to you, the investor, is $ ___ per share.

b.Should you purchase the stock?

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