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Your financial management team has recommended the company set a $2.85 dividend on its upcoming new issue of preferred shares. If the required return on

Your financial management team has recommended the company set a $2.85 dividend on its upcoming new issue of preferred shares. If the required return on those shares is 7.3%, what is the price expected to be?

answer choices

$39.04

Unknown without the growth rate.

$20.81

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