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4 Caspian Sea is considering raising $37.00 million by issuing preferred stock. They believe the...

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4 Caspian Sea is considering raising $37.00 million by issuing preferred stock. They believe the market will use a discount rate of 9.61% to value the preferred stock which will pay a dividend of $2.65. How many shares will they need to issue? Submit Answer format: Currency: Round to: O decimal places. AL

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