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Please solve this and explain thoroughly. Thank you. 4. Consider JMJ Corp 6%$100 par value cumulative preferred stock. The current market price of the stock

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Please solve this and explain thoroughly. Thank you.

4. Consider JMJ Corp 6%$100 par value cumulative preferred stock. The current market price of the stock is $120 per share. What is the market rate of return implicit in that price

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