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Walmart preferred stocks are expected to pay a 2.94 annual dividend forever. If the required rate of return on equivalent investment is 2.33%, a share

Walmart preferred stocks are expected to pay a 2.94 annual dividend forever. If the required rate of return on equivalent investment is 2.33%, a share of Walmart preferred should be worth

A.

$3.01.

B.

$6.85.

C.

$82.20.

D.

$126.18.

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