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You are considering buying a share of preferred stock which you plan to hold for 6 years, then sell for $ 8 7 . 4

You are considering buying a share of preferred stock which you plan to hold for 6 years, then sell for $87.42. It has a $6.48 annual dividend and you require 7.70% return. What is the maximum price you should pay for a share of this preferred stock?
Enter your answer as a number with four decimal places and without the currency symbol. For example, if your answer is $90.1234, enter 90.1234

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