Question: The Eutaw Corporation issues a preferred stock paying a constant dividend of $3.8 per year, far into the future. If investors use 4.8% to discount

The Eutaw Corporation issues a preferred stock paying a constant dividend of $3.8 per year, far into the future. If investors use 4.8% to discount all the future cash flows, what should be the price of Eutaw preferred stock to the nearest cent?

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