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Yankee Athletic Club has preferred stock with a par value of $80 and an annual 5% cumulative dividend. Given the following prices for the preferredstock,

Yankee Athletic Club has preferred stock with a par value of $80 and an annual 5% cumulative dividend. Given the following prices for the preferredstock, what is each investor seeking for his or herreturn?

a.Alex is willing to pay $35

b.Derek is willing to pay $30

c.Marcia is willing to pay $15

d.Johnny is willing to pay $10

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