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(Preferred stock valuation) Pioneer's preferred stock is selling for $49 in the market and pays a $4.90 annual dividend. a. If the market's required yield

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(Preferred stock valuation) Pioneer's preferred stock is selling for $49 in the market and pays a $4.90 annual dividend. a. If the market's required yield is 9 percent, what is the value of the stock for that investor? b. Should the investor acquire the stock? a. The value of the stock for that investor is $ per share. (Round to the nearest cent.)

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