The preferred stock of denver savings and loan pays an, Finance Basics

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The preferred stock of denver savings and loan pays an

Question: The preferred stock of Denver Savings and Loan pays an annual dividend of $7.65. It has a required rate of return of 9 percent. Compute the price of the preferred stock. (Do not round intermediate calculations. Round your answer to 2 decimal places.) The response must be typed, single spaced, must be in times new roman font (size 12) and must follow the APA format.

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