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X-Centric Energy Company has issued perpetual preferred stock with a stated (par) value of 150 and a dividend of 4.9 percent. If the required rate

X-Centric Energy Company has issued perpetual preferred stock with a stated (par) value of 150 and a dividend of 4.9 percent. If the required rate of return is 10.8 percent, what is the stocks current market price? Please round to 2 decimal places.

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