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#199 Preferred stock of Cornerstone Realty pays a stated dividend of $1.75 per share and is expected to pay this amount Indefinitely. If preferred stock

#199

Preferred stock of Cornerstone Realty pays a stated dividend of $1.75 per share and is expected to pay this amount Indefinitely. If preferred stock of companies with almilar risk to Cornerstone offer 9% return, which of the following would be expected to be closest to Cornerstone's preferred stock price?

A. $11.66

B. $19.44

C. $15.55

D.$24.30

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