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North Florida Power Company has preferred stock outstanding that pays an annual dividend of $3.75. If your required return on the preferred stock is 7.8%,

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North Florida Power Company has preferred stock outstanding that pays an annual dividend of $3.75. If your required return on the preferred stock is 7.8%, what is the present value of the preferred stock? The common stock is trading for $48.90. $44.33 $48.49 $48.08 $48.90 $51.83

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