Favoured stock will pay a dividend this year of $2.40 per share. Its dividend yield is 8%.

Question:

Favoured stock will pay a this year of $2.40 per share. Its yield is 8%. At what price is the stock selling?
Dividend
A dividend is a distribution of a portion of company’s earnings, decided and managed by the company’s board of directors, and paid to the shareholders. Dividends are given on the shares. It is a token reward paid to the shareholders for their...