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(Preferred stook valuation) The preterred slock of Gandt Corporation pays a $3.25 dividend. What is the value of the stock il your required retum is

(Preferred stook valuation) The preterred slock of Gandt Corporation pays a $3.25 dividend. What is the value of the stock il your required retum is 15 percent? The value of the preforred stock is : per share. (Round to the nearest cent.)

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