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Yankee Athletic Club has preferred stock with a par value of $60 and an annual 7% cumulative dividend. Given the following prices for the preferred

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Yankee Athletic Club has preferred stock with a par value of $60 and an annual 7% cumulative dividend. Given the following prices for the preferred stock, what is each investor seeking for his or her return? a. Alex is willing to pay $40. b. Derek is willing to pay $30. c. Marcia is willing to pay $15. d. Johnny is willing to pay $5

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