-05:00) Question 4 View Policies Show Attempt History Your Answer Correct Answer Your answer is correct. The First Bank of Flagstaff has issued perpetual preferred stock with a $100 par value. The bank pays a quarterly dividend of $1.80 on this stock. What is the current price of this preferred stock given a required rate of return of 12.0 percent? (Round answer to 2 decimal places, e.g. 15.25.) Current price $ 60.00