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National Petroleum Refiners Corporation (NPR) pays an annual dividend rate of 11.40% on its preferred stock that currently returns 15.28% and has a par value

National Petroleum Refiners Corporation (NPR) pays an annual dividend rate of 11.40% on its preferred stock that currently returns 15.28% and has a par value of $100.00 per share. What is the value of NPR's preferred stock

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