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What the value of the stock

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Reference no: EM131440064

If a preferred stock from Pfizer Inc. (PFE) pays $3.00 in annual dividends, and the required return on the preferred stock is 7 percent, what's the value of the stock?

a. $0.21

b. $21.00

c. $0.43

d. $42.86

Reference no: EM131440064

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