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The preferred stock of Sheridan Corp. is currently selling at $49.00. If the required rate of return is 12.0 percent, what is the dividend paid

The preferred stock of Sheridan Corp. is currently selling at $49.00. If the required rate of return is 12.0 percent, what is the dividend paid by this stock? (Round answer to 2 decimal places, e.g. 15.25.)

Dividend paid

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