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At what price should the preferred stock sell

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Question - Carby Hardware has an outstanding issue of perpetual preferred stock with an annual dividend of $8.30 per share. If the required return on this preferred stock is 6.5%, at what price should the preferred stock sell?

a. $128.05

b. $128.41

c. $129.13

d. $128.77

e. $127.69

Reference no: EM133047168

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