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Pat wishes to purchase a preferred stock of Bilco, Inc. Pat requires a return of 13% on her investment, which matches the return on the
Pat wishes to purchase a preferred stock of Bilco, Inc. Pat requires a return of 13% on her investment, which matches the return on the preferred stock. Given that the preferred stock is paying a dividend of $3.50, calculate the price of the preferred stock price.: O $26.92 $30.00 $45.50 O $28.77
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