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PLEASE ANSWER ALL PARTS. (Preferred stock valuation) Pioneer's preferred stock is selling for $42 in the market and pays a $4.60 annual dividend a. If

image text in transcribedPLEASE ANSWER ALL PARTS.

(Preferred stock valuation) Pioneer's preferred stock is selling for $42 in the market and pays a $4.60 annual dividend a. If the market's required yield is 9 percent, what is the value of the stock for that investor? b. Should the investor acquire the stock? a. The value of the stock for that investor is Sper share. (Round to the nearest cent.)

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