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You own 400 shares of Somner Resources' preferred stock, which currently sells for $25 per share and pays annual dividends of $3.50 per share. If

You own 400 shares of Somner Resources' preferred stock, which currently sells for $25 per share and pays annual dividends of $3.50 per share. If the market's required yield on similar shares is 13%, should you sell your shares or buy more? What is the value of the stock to you per share?

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