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Robinson Corporation issued perpetual preferred stock with a 6% annual dividend. The market rate is 5%, and its par value is $50. What is the

Robinson Corporation issued perpetual preferred stock with a 6% annual dividend. The market rate is 5%, and its par value is $50. What is the stock's price today?

A.
$50

B.
$60

C.
$70

D.
$80

E.
None of the above

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