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Yankee Athletic Club has preferred stock with a par value of $70 and an annual 7% cumulative dividend. Given the following prices for the preferred

Yankee Athletic Club has preferred stock with a par value of $70 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 $35.

b.Derek is willing to pay $25.

c.Marcia is willing to pay $15.

d.Johnny is willing to pay $10.

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