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Please show work and how to do it thank you! WeSUl Help Achi Corp has preferred stock with an annual dividend of $3.12. If the

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WeSUl Help Achi Corp has preferred stock with an annual dividend of $3.12. If the required return on Achi's preferred stock is 8.5%, what is its price? (Hint For a preferred stock, the dividend growth rate is zero.) Achi's stock price will be $ (Round to the nearest cent)

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