Question: ( Ref . Unit 5 Exercise 1 ) A company's preferred stock pays a $ 4 dividend per share annually forever. The required rate of

(Ref. Unit 5 Exercise 1) A company's preferred stock pays a $4 dividend
per share annually forever. The required rate of return on the company
is 11%. What is the value of the stock today (t=0)?
Note: Write your answer with 2 or more decimal places.
(Ref. Unit 5 Exercise 1) A company's preferred stock pays a

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