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What is the intrinsic value of a preference share that has been paying a semi-annual dividend of $1.1 per share, and has an equity cost

What is the intrinsic value of a preference share that has been paying a semi-annual dividend of $1.1 per share, and has an equity cost of capital equal to 11.5% p.a. compounding annually? (Round your answer in dollars to 2 decimal places, e.g. put 1204.42 if your answer is 1204.4243.)

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