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Yogi Brothers has preferred stock outstanding that pays a dividend of $2.75 at the end of each year. If your required rate of return is
Yogi Brothers has preferred stock outstanding that pays a dividend of $2.75 at the end of each year.
If your required rate of return is 7.25%, what is the value of this preferred stock?
(Express your answer to the nearest cent. i.e one thousand dollors would be entered as 1000.00).
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