UNC Bancorp has issued preferred stock with no maturity date. It has a par value...

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Finance

UNC Bancorp has issued preferred stock with no maturity date. It has a par value of $100 and pays a quarterly dividend of $2.25. If the required rate of return is 8 percent, what is the value of the stock today? (Round answer to 2 decimal places, e.g. 52.75.)

Value of the stock

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