DEB Ltd is a listed firm that issued irredeemable preference shares some years ago. These preference shares have a face value of $100, pay a fixed dividend of 5% per annum and the required return on these securities is 13% per annum. There is one full year until the next dividend will be received.

Which of the following is closest to the value of a DEB Ltd preference share?

Group of answer choices

$138.46

$162.50

$30.77

$38.46