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The preferred stock of a public utility pays an annual dividend of $4.00. If the investor's required return on this stock is 9.00% the stock

The preferred stock of a public utility pays an annual dividend of $4.00. If the investor's required return on this stock is 9.00% the stock should sell for?

A. 35.68

B. 24.67

C.44.44

D. 50.00

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