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Value of a Preferred Stock If a preferred stock from Pfizer Inc. (PFE) pays $13.00 in annual dividends, and the required return on the preferred

Value of a Preferred Stock If a preferred stock from Pfizer Inc. (PFE) pays $13.00 in annual dividends, and the required return on the preferred stock is 7.00 percent, what's the value of the stock?

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