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Ricks Muffin Depot is expanding and offering a special series preferred stock in the company to investors to raise money. The stock will have an

Ricks Muffin Depot is expanding and offering a special series preferred stock in the company to investors to raise money. The stock will have an annual dividend of $4.00 per share. Investors that purchase the stock are expected to have a required return of 4.9%. Considering this data what price should the preferred stock sell at?
$77.78
$71.43
$81.63
$94.44
$78.95
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