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QUESTION
quot;A preferred stock from Duquesne Light Company (DQUPRA) pays $3.55 in annual dividends. If the required return on the preferred stock is 7.7
"A preferred stock from Duquesne Light Company (DQUPRA) pays $3.55 in annual dividends. If the required return on the preferred stock is 7.7 percent, what is the value of the stock?" Explain why the growth rate of preferred stock is 0%.
