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On April 1, 2024 CHEMEX sells a surplus facility for cash, common and 6.3% $100 par value preferred shares. The preferred shares will begin paying

On April 1, 2024 CHEMEX sells a surplus facility for cash, common and 6.3% $100 par value preferred shares. The preferred shares will begin paying a quarterly dividend at the end of Q1 in 2026. If CHEMEX discounts these payments at 4.7%, what is the present value of each share?

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