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(Preferred stock valuation) The preferred stock of Gandt Corpocation parys a $0.75 tividend. What is the value of the stock if your required return is

(Preferred stock valuation) The preferred stock of Gandt Corpocation parys a $0.75 tividend. What is the value of the stock if your required return is 7 percent? The value of the preferred stock is ? por share. (Rlound to the nearest cent.)

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