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Preferred stock valuation) Pioneer's preferred stock is selling for $ 54 in the market and pays a $ 4.30 annual dividend. a. If the market's

Preferred stock valuation) Pioneer's preferred stock is selling for $54 in the market and pays a $4.30 annual dividend.

a. If the market's required yield is 7 percent, what is the value of the stock for that investor?

b. Should the investor acquire the stock?

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