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Timeless Corporation issued preferred stock with a par value of $600. The stock promised to pay an annual dividend equal to 10.0% of the par

Timeless Corporation issued preferred stock with a par value of $600. The stock promised to pay an annual dividend equal to 10.0% of the par value. If the appropriate discount rate for this stock is 14.0%, what is the value of the stock? Question 10 options: 1) $667.20 2) $840.00 3) $428.57 4) $351.86 5) $361.71

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