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David is considering purchasing some preferred stock from Pharoah Corp. The company pays a $9 annual dividend per share on its preferred stock, and similar

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David is considering purchasing some preferred stock from Pharoah Corp. The company pays a $9 annual dividend per share on its preferred stock, and similar risk companies are earning 6% annual returns. What should be the value of the stock per share? $5.40 $1500.00 $54.00 $150.00

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