Comstocks Banks just issued some new preferred stock. The issue will pay a ($12) annual dividend in
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Comstock’s Banks just issued some new preferred stock. The issue will pay a \($12\) annual dividend in perpetuity, beginning four years from now. If the market requires a 12 percent return on this investment, how much does a share of preferred stock cost today?
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Related Book For 
Fundamentals Of Corporate Finance
ISBN: 9780072313000
5th Edition
Authors: Stephen A Ross, Randolph W Westerfield
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