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You own 200 shares of Shapard Resources preferred stock, which currently sells for $39 per share and pays annual dividends of $3.75 per share. Your

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You own 200 shares of Shapard Resources preferred stock, which currently sells for $39 per share and pays annual dividends of $3.75 per share. Your expected return is 9.61 percent. If you require a return of 11 percent, the value of the stock for you is $

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