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You are considering to buy a preferred stock that will pay an annual dividend of $6.55 per share every year with the first dividend exactly

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You are considering to buy a preferred stock that will pay an annual dividend of $6.55 per share every year with the first dividend exactly 15 years from today. What is the price of this preferred stock today if the required return is 4.17%? Multiple Choice $85.11 $88.66 $150.79 $157.07

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