What is the value of the stock for dlc

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Problem 1: A preferred stock from DLC pays $3.00 in annual dividends. If the required return on the preferred stock is 9.3 percent, what is the value of the stock?

Option 1: $32.26
Option 2: $38.49
Option 3: $34.89
Option 4: $31.13

Reference no: EM132743380

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