ilyabelll92 ilyabelll92

08-12-2022
Business

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e-eyes just issued some new 20/20 preferred stock. the issue will pay an annual dividend of $20 in perpetuity, beginning 9 years from now. if the market requires a return of 3.4 percent on this investment, how much does a share of preferred stock cost today? (do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.)

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