#3 The market price of a share of preferred stock is $36.57. The market uses a discount rate of 7.22%. What is the dividend? Submit Answer format: Currency: Round to: 2 decimal places. unanswered not submitted Attempts Remaining: Infinity 4 Caspian Sea is considering raising $34.00 million by issuing preferred stock. They believe the market will use a discount rate of 9.53% to value the preferred stock which will pay a dividend of $3.50. How many shares will they need to issue? Submit Answer format: Currency: Round to: O decimal places. c unanswered not submitted