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You are considering buying a floating preferred share slated to pay an annual dividend of $2 one year from now. The preferred's dividends will reset

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You are considering buying a floating preferred share slated to pay an annual dividend of $2 one year from now. The preferred's dividends will reset to LIBOR +4.3%, and the current LIBOR rate is .7%. Suppose that shares have a par value of $21. What price should you expect to pay today? The price you would expect to pay today would be $ Round your answer to the nearest two decimal places

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