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The first bank of flagstaff has issued perpetual preferred stock with a $100 par value. The bank pays a quarterly dividend of $1.90 on this

The first bank of flagstaff has issued perpetual preferred stock with a $100 par value. The bank pays a quarterly dividend of $1.90 on this stock. What is the current price of this preferred stock given a required rate of return of 9.5 percent?

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