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The preferred stock of Crane Corp. is currently selling at $45.60. If the required rate of return is 12.5 percent, what is the dividend paid

The preferred stock of Crane Corp. is currently selling at $45.60. If the required rate of return is 12.5 percent, what is the dividend paid by this stock? (Round answer to 2 decimal places, eg. 15.25.) Dividend paid

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