Brown Enterprises has preferred stock with a par value of $$100,$ a dividend of $$10($paid quarterly$)$ and an effective maturity of $20$ years. if similar stocks yield $8\%,$ what is the value of the stock?Brown Enterprises has preferred stock with a par value of $$100,$ a dividend of $$10($paid quarterly$)$ and an effective maturity of $20$ years. if similar stocks yield $8\%,$ what is the value of the stock?

$$119\mathrm{.}92$

$$119\mathrm{.}87$

$$119\mathrm{.}95$

$$119\mathrm{.}50$