XYZ Life Corp, has issued preferred stock with annual dividend payments of $0.85 per share....
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XYZ Life Corp, has issued preferred stock with annual dividend payments of $0.85 per share. If the required rate of return on these bonds is 3.7%, what is the value of the instruments today? Enter your answer as a number with 2 decimal places of precision (.e. 1.23). Do not enter dollar signs or commas
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