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SHOW STEP BY STEP SOLUTION ANSWER IS $64.29 You purchased 500 shares of HSBC...

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SHOW STEP BY STEP SOLUTION ANSWER IS $64.29

You purchased 500 shares of HSBC preferred stock at $45 per share. Each share of preferred stock pays a $4.50 dividend .If your required rate of return as an investor is 7%, what value would you assign to the stock

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