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( Preferred stock valuation ) What is the value of a preferred stock where the dividend rate is 1 4 percent on a $ 1

(Preferred stock valuation) What is the value of a preferred stock where the dividend rate is 14 percent on a $100 par value, and the market's required yield on similar shares is 9 percent?
The value of the preferred stock is & per share. (Round to the nearest cent.)
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