A company has an outstanding issue of perpetual preferred stock with an annual dividend of $15 per share of the required return on this preferred stock ise at what price show the stock soft 1533 51500 $10.75 $20.00 Baker's Franchive just paid an annual dividend of $4.00 a share (Do 54.00). The dividend wat increase by 10 percent for the next four years and then increase by percent annually thereafter (4%). What is the present value of this stock at a required return of 9 percent (1996) 56630 11023