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P7-11 (similar to) Fenway Athletic Club plans to offer its members preferred stock with a...

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P7-11 (similar to) Fenway Athletic Club plans to offer its members preferred stock with a par value of $100 and an annual dividend rate of 6%. What price should these members be willing to pay for the returns they want? Theo wants a return of 9% Jonathan wants a return of 11% Josh wants a return of 16% dTerry wants a return of 17%

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