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Kendra Corporation's preferred shares are trading for $61 in the market and pay a $6.10 annual dividend. Assume that the market's required yield is 11

Kendra Corporation's preferred shares are trading for $61 in the market and pay a $6.10 annual dividend. Assume that the market's required yield is 11 percent.

a.What is the stock's value to you, the investor?

b.Should you purchase the stock?

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