Required rate of return on preferred stock

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Reference no: EM132376416

ABC Co., preferred stock has a par value of $178.52 with a preferred dividend rate of 8.35%. If the required rate of return on preferred stock is 14.83%, what is today's price of preferred stock?

Enter your answer rounded off to two decimal points. Do not enter $ or comma in the answer box.

Reference no: EM132376416

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