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Suppose that a preferred share is pays a dividend of $1.05 (per share) on a quarterly basis. The next dividend is to be paid 3

Suppose that a preferred share is pays a dividend of $1.05 (per share) on a quarterly basis. The next dividend is to be paid 3 months from today.

If the required rate of return on this share is 4.50% (effective annual rate), what is the price today of this preferred share?

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