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Purcell Corporation has preference shares with an annual dividend of $2.76. If the required return on Purcell's preference shares is 7.6%, what is its

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Purcell Corporation has preference shares with an annual dividend of $2.76. If the required return on Purcell's preference shares is 7.6%, what is its price? (Hint: For a preference share, the dividend growth rate is zero.) Purcell's share price will be $ (Round to the nearest cent.)

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