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Valuing Preferred Stock ABC Company has preferred stock outstending that is expected to pay an annual dividend of $4.55 every year in perpetuity. If the

Valuing Preferred Stock ABC Company has preferred stock outstending that is expected to pay an annual dividend of $4.55 every year in perpetuity. If the required teturn is 4.74 percent, what is the current stock price? Round to the nearest penny

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