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Score: 0 of 1 pt 5 of 5 (0 complete HW Score: 0%, 0 of 11 pts P10-17 (similar to) Question Help (Preferred stock valuation)

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Score: 0 of 1 pt 5 of 5 (0 complete HW Score: 0%, 0 of 11 pts P10-17 (similar to) Question Help (Preferred stock valuation) What is the value of a preferred stock where the dividend rate is 18 percent on a $100 par value and the market's required yield on similar shares is 9 percent? The value of the preferred stock is sper share. (Round to the nearest cent.)

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