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The Eliyahu Oved Air Companys preferred stock pays a dividend of $1.50 per share annually. If the required rate of return on comparable quality preferred

The Eliyahu Oved Air Companys preferred stock pays a dividend of $1.50 per share annually. If the required rate of return on comparable quality preferred stocks is 9 percent, calculate the value of Eliyahu Oved-Airs preferred stock.

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