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Mullen Inc has an outstanding issue of perpetual preferred stock with an annual dividend of $2.40 per share. If the required return on this preferred

Mullen Inc has an outstanding issue of perpetual preferred stock with an annual dividend of $2.40 per share. If the required return on this preferred stock is 6.5%, at what price should the stock sell? PLEASE round your answer 2 decimal places. Your answer should be between 18.12 and 72.80

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