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McKerley Corporation has preferred stock outstanding that will pay an annual dividend of $5.80 per share with the first dividend exactly 10 years from today.

McKerley Corporation has preferred stock outstanding that will pay an annual dividend of $5.80 per share with the first dividend exactly 10 years from today. If the required return is 4.02 percent, what is the current price of the stock?

$138.70
$93.52
$101.19
$97.28

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