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KUB Utilities' preferred stock pays a fixed 6.5% dividend on its stated par value of $100. If similar preferred stock issues have market yields of

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KUB Utilities' preferred stock pays a fixed 6.5% dividend on its stated par value of $100. If similar preferred stock issues have market yields of 8%, what is the value of the preferred stock? $81.25 $100 $75 $65

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