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Patrick company expects to generate free cash of $120,000 per year forever. If the firm's required return is 12 percent, the market value of dept

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Patrick company expects to generate free cash of $120,000 per year forever. If the firm's required return is 12 percent, the market value of dept is $300,000, the market value of preferred stock is $70,000, and the company has 100,000 shares of stock outstanding. What is the value of Patrick's stock? $0.30 $9.30 $70.00 $7.00

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