Question: 10. Practice Problem 72 Expreis surgery Center's (ESC) preferred stock, which has a par value equal to $200 per share, pays an annual dividend equal

10. Practice Problem 72 Expreis surgery Center's (ESC) preferred stock, which has a par value equal to $200 per share, pays an annual dividend equal to 11 percent of the par value. If investors require a 14 percent return to purchase ESC's preferred stock, what is the stock's market value? Do not round intermediate calculations. Round your answer to the nearest cent. s

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