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Preferred share of the Royal Bank pays quarterly dividends of $0.40 per share. The relevant discount rate, given the risk of the shares, is 8%

Preferred share of the Royal Bank pays quarterly dividends of $0.40 per share. The relevant discount rate, given the risk of the shares, is 8% (note, stock returns are normally quoted as effective annual rates). What is the current value of this stock assuming the next dividend is to be paid in 2 months?

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