Question: --/1 Question 11 View Policies Current Attempt in Progress The First Bank of Flagstaff has issued perpetual preferred stock with a $100 par value. The

--/1 Question 11 View Policies Current Attempt in Progress The First Bank of Flagstaff has issued perpetual preferred stock with a $100 par value. The bank pays a quarterly dividend of $1.80 on this stock. What is the current price of this preferred stock given a required rate of return of 100 percent? (Round answer to 2 decimal places, es. 15.25.) Current prices

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