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Kerdgmyer's preferred stock sold for $30 during the IPO with a dividend of 5% of par. The current price is $45. If your portfolio is

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Kerdgmyer's preferred stock sold for $30 during the IPO with a dividend of 5% of par. The current price is $45. If your portfolio is returning 6% what should the price of Kerdgmyer' move to before you would buy it? a) $25 b) $35 c) 550 d) $55

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