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(Preferred stock valuation) You are considering an investment in one of two preferred stocks, TCF Capital or TAYC Capital Trust. TCF Capital pays an annual

(Preferred stock valuation) You are considering an investment in one of two preferred stocks, TCF Capital or TAYC Capital Trust. TCF Capital pays an annual dividend of $2.16, while TAYC Capital pays an annual dividend of $1.94. If your required return is 11 percent, what value would you assign to the stocks?

The value of the TCF Capital preferred stock is $______ per share

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