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(Preterred stock valuation) What is the value of a preferred stock when the dividend rate is 12 percent on a 8100 par value? The approgriate

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(Preterred stock valuation) What is the value of a preferred stock when the dividend rate is 12 percent on a 8100 par value? The approgriate discount nate for a Mock of this risk level is 9 percent. Tho value of the preferred stock is S (Round to the nearest cent.)

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