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The preferred stock of Dallas Platinum Exchange has a par value of $55 and pays...

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Finance

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The preferred stock of Dallas Platinum Exchange has a par value of $55 and pays a 5% dividend rate per year. You calculated a beta of 1.83 for the stock. The risk-free rate is 1.18% and the market return is 9.2%. Assuming that CAPM holds, what is the intrinsic value of this preferred stock? DO NOT ENTER THE $ SIGN. ALSO, ENTER YOUR ANSWER AS A POSITIVE NUMBER. SET YOUR CALCULATOR TO 4 DECIMAL PLACES AND ROUND TO TWO DECIMAL PLACES AT THE END, i.e. IF YOUR ANSWER IS 33.4348 ENTER IT AS 33.48 ONLY

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