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The preferred stock of Dallas Platinum Exchange has a par value of $52 and pays a 9% dividend rate per year. You calculated a beta

The preferred stock of Dallas Platinum Exchange has a par value of $52 and pays a 9% dividend rate per year. You calculated a beta of 1.57 for the stock. The risk-free rate is 1.59% and the market return is 9.2%. Assuming that CAPM holds, what is the intrinsic value of this preferred stock?

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