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Libitina's Funeral Services has decided to offer new preferred stock for sale that it will call an 5-11 offering. This stock will pay an annual

Libitina's Funeral Services has decided to offer new preferred stock for sale that it will call an 5-11 offering. This stock will pay an annual dividend of $5 a share starting 11 years from now. If your required return is 13.9 percent, how much are you willing to pay for one share of this stock today? Answer Tolerance: $ 0.055

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