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Suppose you want to own some Ford's preferred stocks. If the stock gives $ 3 . 4 dividend per year and you require a 9

Suppose you want to own some Ford's preferred stocks. If the stock gives $

3.4

dividend per year and you require a

9 %

return on your investment, how much are you willing to pay for the stock?

(

Round your answer to two decimal point

)

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