ABC Bank issued perpetual preference shares some years ago. The bank pays an annual dividend of $3.2, and the required rate of return is 11%. If this share is currently sold at $27, would it be a good buy and why?

Table 1 Assets Liabilities Net loans and advances Cash and liquid assets Securities Other assets Total assets Dec 2021 in AUD millions 3,268,468 398,401 3,560,565 536,365 7,763,799 Deposits Other short-term borrowings Long-term borrowings Other liabilities Total liabilities Dec 2021 in AUD millions 2,790,088 333,024 3,483,235 658,920 7,265,267 Share capital Retained earnings Other Total shareholders' equity 361,443 118,358 18,730 498,531 Table 2 Fiscal year 2021 in AUD millions Earnings by category Commissions and fees Market making Financial advisory Interest income Total earnings 3,578 21,000 7,000 31,000 62,578