A Corporation preferred stock pays a quarterly dividend of $2.00 per share. Which of the followingstatements is true for an investor with a required return of 12%?

A. The value of the preferred stock is $2 because the dividend is fixed at $2 each quarter.

B. The value of the preferred stock is $100 per share because that's the price of all preferred stocks.

C.The value of the preferred stock is $66.67 per share.

D.The value of the preferred stock is $16.67 per share.

E.The value of the preferred stock is $120 per share because of the 12% required return.