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(Preferred stock valuation) Kendra Corporation's preferred shares are trading for $28 in the market and pay a $5.30 annual dividend. Assume that the market's required
(Preferred stock valuation) Kendra Corporation's preferred shares are trading for $28 in the market and pay a $5.30 annual dividend. Assume that the market's required yield is 17 percent. a. What is the stock's value to you, the investor? b. Should you purchase the stock? a. The value of the stock to you, the investor, is $ per share. (Round to the nearest cent.)
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