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Calculate the annual preference dividend of preference share

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Question - Preference shares in Intech Ltd are currently priced at $12.98 each and are expected to pay out a preference dividend each year for the life of the company. The required rate of return on the shares is 13.75% pa. Calculate the annual preference dividend of a preference share in Intech Ltd. Give your answer in dollars and cents to the nearest cent.

Reference no: EM133180803

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