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(Preferred stock valuation) Pioneer's preferred stock is selling for $33 in the market and pays a $3.60 annual dividend a. If the market's required yield

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(Preferred stock valuation) Pioneer's preferred stock is selling for $33 in the market and pays a $3.60 annual dividend a. If the market's required yield is 10 percent, what is the value of the stock for that investor? b. Should the investor acquire the stock

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