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Twenty years ago, Artic BBQs issued preferred stock that pays an annual dividend equal to 5.5 percent of its $160 par value. If investors require

Twenty years ago, Artic BBQs issued preferred stock that pays an annual dividend equal to 5.5 percent of its $160 par value. If investors require an 11 percent return to purchase Arctics preferred stock, what is the stock markets value?

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